The combined net after tax profits of six Lebanese banks’ Syrian subsidiaries, namely Bank Audi Syria, Bank of Syria & Overseas, Byblos Bank Syria, Bank BEMO Saudi Fransi, Sharq Bank, and Fransabank Syria rose by SYP 3.51 billion year-on-year to just below SYP 10.05 billion ($19.51 million) in the first nine months of 2019, up from SYP 6.54 billion ($12.70 million) over that same period last year. Bank BEMO Saudi Fransi recorded the highest profit figure ($7.03 million), followed by Sharq Bank ($3.94 million), Byblos Bank Syria ($3.44 million), Bank Audi Syria ($2.68 million), Fransabank Syria ($1.97 million), and Bank of Syria & Overseas ($0.45 million).

On the balance sheet front, the combined assets of Lebanese banks’ Syrian subsidiaries widened by 2.16% during the first nine months of the current year to just below SYP 881.80 billion ($1.71 billion). The share of Bank BEMO Saudi Fransi of the combined assets of the six banks stood at 36.42%, that of Bank of Syria & Overseas being 15.90%, Fransabank Syria amassing a share of 14.08%, Bank Audi Syria detaining 13.41%, Byblos Bank Syria controlling a stake of 10.56%, and the share of Sharq Bank reaching 9.63%. The combined net loans portfolio of the six aforementioned banks soared by 33.70% during the first nine months of the current year to SYP 231.71 billion ($449.93 million), while their combined customer deposits increased by 2.09% to SYP 603.79 billion ($1.17 billion). On the capitalization front, the combined equity of the six banks rose by 6.81% by September to SYP 146.57 billion ($284.61 million).