In the first quarter of the year (Q1 2016), BLOM Bank retained its strong standing in the sector by relying on its successful conservative approach and expansion strategy.
BLOM posted the highest Return on Average Equity (ROAE) and the highest Return on Average Assets (ROAA) among listed Lebanese banks of 15.43% and 1.48%, respectively.
Despite tough operating conditions domestically and regionally, BLOM Bank’s net profits increased by 18.71% year-on-year to reach $108.23M in Q1 2016 and that was mainly due to higher profits achieved at the bank’s foreign subsidiaries.
Along with higher profitability, BLOM Bank registered a steady and balanced growth in its balance sheet aggregates. In Q1 2016, total assets rose by a yearly 4.31% to $29.30B while private loans increased by a yearly 5.27% to $7.28B. Customer deposits registered a 4.66% yearly upturn to $25.21B and shareholders’ equity also grew by an annual 7.72% to $2.79B.
Moreover, BLOM Bank’s strong managerial efficiency allowed it to attain sound qualitative indicators. BLOM’s 36.69% cost to income ratio was the lowest among listed banks and its 18% capital adequacy ratio largely exceeded the required 12%. The ratios of primary liquidity and coverage of non-performing loans of respective 66% and 149% were also solid.
BLOM Bank’s Financial Highlights in Q1 2016
| Q1 2016 | YOY Change | |
| Total Assets ($B) | 29.3 | 4.31% |
| Private Loans ($B) | 7.28 | 5.27% |
| Shareholders’ Equity ($B) | 2.79 | 7.72% |
| Customer Deposits ($B) | 25.21 | 4.66% |
| Net Profit ($M) | 108.23 | 18.71% |
Source: BLOM Bank