BLOM Bank’s Net Profits Grew to $344.07M by September 2016
BLOM Bank posted an 18.74% yearly increase in its net profits to stand at $344.07M, end of September 2016. In details, net interest income and net fees and commission income added 12.64% and 2.42% year-on-year to $506.70M and $112.10M, respectively.
Looking at the balance sheet, total assets broadened 3.55% year-to-date (y-t-d) to $30.13B by September 2016, as loans and advances to customers inched up 4.45% to $7.49B, during the same period.
On the liabilities side, customers’ deposits grew 1.96% since year start, to $25.45B by the 3rd quarter of 2016.
As for total shareholders’ equity, it inched up 3.51% y-t-d, to $2.82B, by September 2016.
Worth mentioning that among the listed Lebanese banks, BLOM Bank recorded the highest return on common equity ratio of 17% and the lowest cost-to-income ratio of 35.3%. Moreover, BLOM Bank recorded a capital adequacy ratio of 18.1%, higher than the required ration of 12%.
BLOM Bank Financials for Q3
| ($M) | Sep-16 | Dec-15 | % Change |
| Net Profits | 344.07 | 289.77* | 18.74% |
| Total Assets | 30,130.93 | 29,099.15 | 3.55% |
| Customers’ Deposits | 25,447.17 | 24,957.73 | 1.96% |
| Total Equity | 2,817.04 | 2,721.60 | 3.51% |
*Value for September 2015
Source: BSE News
