Financials

Financials

(expressed in millions of LBP )

12/31/2017 12/31/2016
ASSETS    
Cash and balances with Central Banks 303,721 345,267
Due from banks and financial institutions 14,178 22,499
Due from head office, sister, and subsidiary companies 1,630,943 1,381,158
Loans to banks and financial institutions and reverse repurchase agreements - -
Financial assets given as collateral - -
Derivative financial instruments 555 1,829
Financial assets at fair value through profit and loss 3,696 3,288
Debt instruments and other similar financial assets at fair value through profit and loss - -
Of which: Net advances and loans at fair value through profit and loss - -
Net loans and advances to customers at amortized cost (1) 218,345 201,592
Net loans and advances to related parties at amortized cost (2) 4,891 9,563
Debtors by acceptances - -
Financial assets at amortized cost (3) 63,869 3,674
Financial assets at fair value through other comprehensive income 43,780 47,456
Investments in subsidiaries and associates 6,345 19,450
Non current assets held for sale 3,534 3,650
Property and equipment 1,111 1,329
Intangible assets 1,162 1,403
Other assets 16,476 12,313
Goodwill - -
Total Assets 2,312,606 2,054,469
       
LIABILITIES    
Due to Central Banks - -
Due to banks and financial institutions and repurchase agreement 1,758 328
Due to head office, sister, related banks and financial institutions 42,644 1,063
Financial assets taken as a guarantee - -
Derivative financial instruments 193 538
Financial liabilities at fair value through profit and loss - -
Of which: deposits at fair value through profit and loss - -
Customers' deposits at amortised cost 1,998,192 1,753,952
Deposits from related parties at amortized cost 17,459 17,615
Debt issued and other borrowed funds - -
Engagements by acceptances - -
Other liabilities 32,574 35,878
Provisions for risks and charges 7,640 8,025
Subordinated loans and similar debts - -
Non current liabilities held for sale - -
Total Liabilities 2,100,460 1,816,871
Shareholders' Equity - Group Share
Capital - Common shares 40,000
40,000
Capital - Preferred shares - -
Issue premium - Common shares - -
Issue premium - Preferred shares - -
Subsidiary shares warrants - -
Share Capital and Cash contribution to capital - -
Non distributable reserves 127,050 111,054
Distributable reserves 36 47,231
Treasury shares - -
Retained earnings 2,830 21,073
Proposed dividends - -
Revaluation reserve of real estate - -
Reserve on revaluation of financial assets at fair value through other comprehensive income (27,642) (25,617)
Remeasurement actuarial (gain)/Loss on defined benefit plan (1,246) 27
Share of associates' other comprehensive income under equity method - -
Foreign currency translation reserve - -
Net (loss) gain on hedge of net investments in foreign entities - -
Result of the current Period 71,119 43,832/td>
Shareholders' Equity - Group Share 212,146 237,598
Non Controlling Interest - -
Total Shareholder's Equity - -
Total Liabilities and Equity 2,312,606 2,054,469


(1) After deduction of provisions amounting to LBP 27,235 million from loans and advances to customers as per IAS 39, of which LBP 2,300 million representing provisions on collective assessment .

(2) Loans granted to related parties against cash collateral amounted to LBP 4.891 million.

(3) Includes an amount of LBP (million) 63.869 representing Lebanese Eurobonds
(expressed in millions of LBP )

  12/31/2017 12/31/2016
Financing commitments - -
Financing commitments given to banks and financial institutions -
-
Financing commitments given to customers 55,647 50,205
Bank guarantees - -
Guarantees given to to banks and financial institutions 516 14,430
Of which: credit derivatives - -
Guarantees received from banks and financial institutions - -
Of which: credit derivatives - -
Guarantees given to customers 6,283 22,139
Guarantees received from customers 482,993 448,932
Financial notes commitments - -
Financial notes commitments to be received - -
Of which: financial instruments sold with a buy back option - -
Financial notes commitments to be delivered - -
Of which: financial instruments purchased with a buy back option - -
Foreign currencies forwards - -
Foreign currencies to receive 40,142 139,228
Foreign currencies to deliver 39,996 138,153
Commitments on term financial instruments 39,996 23,222
Other Commitments 199 45
Claims from legal cases - -
Fiduciary accounts 1,387,200 2,164,240
Under specific instructions 1,387,200 2,164,240
Under discretionary investments - -
Assets under management 2,415,236 2,067,827
Mutual funds - -
Structured financial products - -
Engagement unlikely to be executed - -
Bad debts written off during the year 545 13,478
(expressed in millions of LBP )

  12/31/2017 12/31/2016
Interest & similar income 100,633 90,924
Interest & similar expense (51,240) (45,058)
Net Interest margin 49,393 45,866
Fee & commission income 32,076 23,276
Fee & commission expense (1,554) (1,220)
Net Fee & Commission Income 30,522 22,056
Net gain on financial assets or liabilities at fair value through profit and loss 1,647 2,158
Of which: Interest income - -
Net gain on financial investments 30,630 432
Other operating Income 1,561 530
Total operating income 113,753 71,042
Net provisions for credit losses 2,165 9,200
Credit losses related to debt instruments classified at amortized cost - -
Provisions for doubtful accounts - (4,341)
Recoveries of provisions for doubtful accounts 2,165 13,541
Impairement on related financial investments - (283)
Net Operating income 115,918 79,959
Personnel expenses (22,704) (17,968)
Other operating expenses (9,151) (8,982)
Depreciation of property & equipment (437) (425)
Amortization of intangible assets (519) (515)
Impairment of goodwill - -
Total Operating Expenses (32,811) (27,891)
Operating Profit 83,107 52,069
Share of profit of associates under equity method - -
Net gain (loss) on sale or disposal of other asset - -
Profits Before Tax 83,107 52,069
Income tax  (11,988) (8,237)
Profits After Tax 71,119 43,832
Result of discontinued operations, net of tax - -
Profit for the current period 71,119 43,832
Minority Share Profit for the current period - -
Group Share Profit for the current period - -
Basic earnings per share LBP - -
Diluted earnings per share LBP - -
Basic earnings per share from continuing operations LBP - -
Diluted earnings per share from continuing operations LBP - -
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