The combined net after tax profits of Lebanese banks’ Syrian subsidiaries, namely Bank Audi Syria, Bank of Syria & Overseas, Byblos Bank Syria, Bank BEMO Saudi Fransi, Sharq Bank, Syria Gulf Bank and Fransabank Syria rose by SYP 4.55 billion year-on-year to just below SYP 6.95 billion ($13.50 million) in 2019, up from SYP 4.61 billion ($8.94 million) in 2018. Bank BEMO Saudi Fransi recorded the highest profit figure ($5.24 million), followed by Sharq Bank ($3.55 million), Bank Audi Syria ($2.39 million), Byblos Bank Syria ($2.06 million), Fransabank Syria ($0.82 million), Bank of Syria & Overseas ($0.43 million), and Syria Gulf Bank which recorded a net loss of $1.01 million.

On the balance sheet front, the combined assets of Lebanese banks’ Syrian subsidiaries widened by 3.18% during the year 2019 to just below SYP 940.38 billion ($1.83 billion). The share of Bank BEMO Saudi Fransi of the combined assets of the seven banks stood at 34.19%, that of Bank of Syria & Overseas being 14.71%, Fransabank Syria amassing a share of 14.12%, Bank Audi Syria detaining 12.95%, Byblos Bank Syria controlling a stake of 9.70%, the share of Sharq Bank reaching 8.71% and the share of Syria Gulf Bank settling at 5.62%. The combined net loans portfolio of the aforementioned banks soared by 40.68% during the year 2019 to SYP 254.39 billion ($494.03 million), while their combined customer deposits increased by 2.77% to SYP 644.49 billion ($1.25 billion). On the capitalization front, the combined equity of all seven banks rose by 8.81% in 2019 to SYP 151.83 billion ($294.85 million).