BLOM Bank’s Net Profit Grew by 7.59% yearly to $290M by September

BLOM Bank announced its financial results for the first three quarters of 2015. The results are quite robust, considering the slowdown in the Lebanese economy and the political troubles facing the country. Net profit increased to $290M million, up by 7.59% from September 2014, and driven by the increase in profits of BLOM Bank’s foreign subsidiaries and units. This also implied very decent profitability ratios for the Bank, with ROAE amounting to 15.2%. What produced this notable performance in profitability is BLOM Bank’s exceptional managerial and operational efficiency since the cost‐to‐income ratio stood at 37.03%.

 Steady and balanced growth also marked BLOM Bank’s balance sheet aggregates. Assets reached $28.93B, higher by 3.42% from December 2014m, while customers’ deposits increased to $25.03B, increasing by 4.26%, over the same period. Stronger growth was obtained in lending by the Bank, with loans ticking up by 1.36% year-to-date (y-t-d) to $7.00B. As for shareholders’ equity, it rose by 3.86% to $2.62 B, up from $2.52B in December 2014.

 BLOM Bank’s strong financial standing was reflected in a capital adequacy ratio (Basel III) at 17.8% (one of the highest in the Lebanese banking sector), a primary liquidity ratio of 66%, and a coverage ratio for non‐performing loans (including collective provisions and real guarantees) at 163%.



BLOM Bank Financial Highlights ($B)

Sept 30, 2015Dec 31, 2014change
Customers Deposits25.0324.014.26%
Loans and Facilities to customers7.006.911.36%
Total Assets28.9327.973.42%
Shareholders’ Equity2.622.523.86%
Net Profit ($M)289.77269.32*7.59%
* Sept 2014


Source: BLOM Bank


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