(In US $B ) | 30/06/2017 | 31/12/2016 | YOY |
| Total Assets | 31.32 | 29.51 | 6.13% |
| Loans and Advances to Customers at Amortized Costs | 7.69 | 7.16 | 7.40% |
| Shareholders’ Equity | 2.74 | 2.93 | -6.48% |
| Customer Deposits | 26.67 | 24.81 | 7.50% |
| Net Profit (US $M) | 233.53 | 226.67 | 3.03% |
BLOM Bank announced today its un‐audited financial results for the first two quarters of 2017. The results are quite robust, considering the slowdown in the Lebanese economy and the political troubles still facing the region. Net profit increased to $233.53 million, up by 3.03% from end June 2016, and driven by increases in profit at BLOM Bank’s domestic and foreign subsidiaries. This implied very decent profitability ratios for the Bank, with ROAcE reaching 16.66% and ROAA 1.54%, the highest among listed banks.
Notable growth also marked BLOM Bank’s balance sheet aggregates, abetted by the acquisition of the three branches of HSBC Lebanon on 17/6/2017. Assets increased to $31.32 billion, higher by 6.13% from end December 2016; customers’ deposits rose to $26.67 billion, up by 7.51%; while loans increased to $7.69 billion, higher by 7.41%.
As such, the financial results attest to BLOM Bank’s prudent management and the success of its regional diversification strategy. In addition, they were accomplished while maintaining BLOM Bank’s strong financial and efficiency standing, as reflected in a capital adequacy ratio of 17%, a net NPLs ratio of 0.5%, and a cost‐to‐income ratio of 34.36%, the lowest among listed banks.
Source: BLOM Bank, Beirut Stock Exchange