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