Byblos Bank said Thursday that unaudited net profits in the first nine months of 2012 slightly fell by 3.98 percent to $123 million from $128.1 million in the same period of last year after making more provisions for nonperforming loans. “Byblos Bank’s unaudited consolidated net income for the first nine months of 2012 reached $123 million after allocating provisions for credit losses for an amount of $40.1 million,” the bank said in a statement. The bank said that it sustained in the third quarter of 2012 its conservative strategy and preserved its solid financial position. “Within the context of volatile and uncertain local and regional conditions, the bank continued to record a capital adequacy ratio exceeding requirements of Basel III, while reinforcing its resilience, maintaining its high liquidity, and improving its asset quality,” the bank said. Byblos Bank’s primary liquidity placed with the Central Bank and other lenders amounted to $9.2 billion, representing 68.7 percent of total deposits at the end of September 2012. It added that this had allowed the bank to maintain one of the most elevated liquidity levels in the banking sector. “Byblos Bank kept a strong asset quality, thereby allocating specific and collective provisions for credit losses for an amount of $40.1 million during the first nine months of 2012, out of which $13.9 million are collective provisions,” the bank explained. Gross nonperforming loans represented 4.6 percent of gross loans up to September, and were covered up to 65.6 percent by specific provisions and reserved interest. The coverage ratio reached 98.6 percent when collective provisions are accounted, which represents 1.6 percent of net loans. Net nonperforming loans reached 1.70 percent of net loans at the end of September. The capitalization of Byblos Bank recorded a high level with a Basel III Capital Adequacy Ratio of 13 percent, versus a 12 percent minimum regulatory requirement with full compliance by December 2015. The bank matched long-term foreign currency assets with long-term funding in foreign currency, as evidenced by last year’s issuance of USD 300 million in 10-year bonds carrying a coupon of 7 percent. Total assets stood at $16.9 billion as of Sept. 30 2012. Customer deposits grew, during the first nine months of 2012, by 4.2 percent ($500 million) to $13.4 billion as of 30 Sept. 30, 2012. Net customer loans increased, during the first nine months of 2012, by 3.2 percent $100 million and reached $4.1 billion as of Sept. 30 2012. (daily star)