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-16Dec-15% Change
Net Profits         344.07         289.77*18.74%
Total Assets    30,130.93    29,099.153.55%
Customers’ Deposits    25,447.17    24,957.731.96%
Total Equity       2,817.04       2,721.603.51%

*Value for September 2015

Source: BSE News

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