| |
In 2003, FRANSABANK recorded a net profit of LBP 64.1 billion, with an annual growth rate of 16.7% over 2002 where it was LBP 54.9 billion and against LBP 49.3 billion in 2001. The ROA, thus, reached 1.04% and the ROE reached 14.23% in 2003. The Bank’s total assets increased remarkably by 19.5% during 2003, against a growth of 10.2% during 2002; a development which reflects faster growth in the Bank’s activities during the previous years. Also, the Bank’s customer deposits grew substantially by 24% during 2003, a rate that is four times greater than the growth recorded in 2002 (6%). This reflects a greater potential to attract new customers and a greater confidence in the Bank’s growth prospects. FRANSABANK maintained growing shareholders’ equity, which reached LBP 450.4 billion in 2003, with an annual increase of 16.6% over 2002. By this, the Bank maintained a strong capitalization ratio of 7.31% in 2003. Due to unfavorable economic conditions in Lebanon , the credit portfolio of the Bank retarded relatively to LBP 880.8 billion in 2003, against a level of LBP 1039.3 billion in 2002.
|
|