BLOM Bank Posted Highest Profits for 2015 among Lebanese Banks

BLOM Bank’s unaudited financial statements revealed a 10.93% yearly surge in net profits to $404.66M, end of 2015, driven by increases in profit at its foreign subsidiaries. Among the listed banks, BLOM Bank recorded the highest profitability ratios, with 16.04% ROAE and 1.42% ROAA.  Net interest income and net fees and commission income surged 8.20% and 1.77% to $611.21M and $146.64M.

On the statement of financial position, total assets broadened 4.01% annually to $29.10B end of December 2015, as loan and advances to customers at amortized costs grew 4.13% to $7.17B.

On the liabilities side, customers’ deposits at amortized costs increased 4.52% to $24.96B.

As for total equity, it stood at $2.72B end of 2015, growing 7.94% from last year.

BLOM Bank’s strong financial position can also be mirrored by its 18% capital adequacy ratio (as per Basel III), a primary liquidity ratio of 67%, and a coverage ratio for non-performing loans of 153%.

BLOM Bank’s Financials ($M)

BLOM Bank Posted Highest Profits for 2015 among Lebanese Banks
Source: BSE News

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