Net profit growth of 15.6% reaching $ 53 Billion Lebanese Pounds
Assets growth of 14.9% reaching $ 6.193 Billion Lebanese Pounds
Customer deposits growth of 14.6% reaching $ 5.367 Billion Lebanese Pounds
Equity growth of 9.4% reaching $ 528 Billion Lebanese Pounds
Beirut, January 18, 2017: LGB BANK, part of the Lebanese Alpha banks, recently published its 2016 unaudited financial results. According to the latest banking report, which evaluates and identifies the rankings of the Lebanese Alpha Banks, for the year 2016, LGB BANK achieved great strides in terms of performance and growth indicators.
LGB BANK reached a rate of 14.9% in asset growth, with a value of 6,193 Billion Lebanese Pounds while maintaining a high liquidity ratio, and 14.6% in terms of deposits growth with a value of 5,367 Billion Lebanese Pounds. As for the equity growth, it reached 528 Billion Lebanese Pounds which accounts for 9.4% growth rate, thus contributing in strengthening the Bank’s solvency and increasing its capacity to face risks. The Bank also amounted a rate of 15.6% in terms of net profit growth rate with a value of 53 Billion Lebanese Pounds.
Commenting on the report, Mr. Samer Itani, the Vice Chairman and CEO of LGB BANK, expressed his pride in sharing the successes of LGB BANK for 2016: “Our continuous successes are the result of the sustained efforts of the team and the board of directors and these promising results will be an additional incentive to provide pioneering and distinctive banking services.”
In recognition of the efforts exerted by LGB BANK to establish a distinct position among the biggest Lebanese banks, the World Union of Arab Bankers granted the Bank the Banking Executive Award 2016 for Excellence in E-banking and Mobile Banking. The Bank also received the MEFTECH award for the Retail Bank of the Year 2016; the Industry Awards 2016 of Best Financial Transformation and the Product Awards 2016 of Best Credit Card and Best Co-branded Credit Card by Banker Middle East – CPI Financial.
This proves that LGB BANK seeks to acquire various awards that showcase its success through its innovative and advanced banking products and services offered in its 18 various branches across Lebanon, in addition to a branch in Cyprus and a representative office in Dubai. The products and services are represented by the Bank’s online banking and mobile app while enabling highest rates in innovation and safety, in addition to a full range of social media channels. Through the various banking products, our clients can benefit from unprecedented banking services such as Banking By Night and LGB Loyalty Program with the competitive LGB Miles Program that enables the Bank’s clients to travel to more than 55 countries, in addition to authentic products such as foreign currency cards in UAE Dirham, Turkish Lira, Saudi Riyal and Sterling Pound, and elite cards: the Black Card, the VISA Infinite Card and the VISA Signature Card.