Net Profit of BLOM Bank Reached $238.7M in H1 2019

As per the consolidated financial statements of BLOM Bank, the net profit for the first half of the year stood at $238.7M amid the recent headwinds faced by the Lebanese economy, compared to $243.8M in the same period last year. In fact, the bank’s Net interest income and Net commission income slipped by an annual 5.3% and 8% to stand at $374M and $64.1M, respectively, in H1 2019.

In its turn, the bank’s balance sheet showed Total assets grew by 4.87% year-to-date (YTD) to hit $38.53B over the same period. In fact Net loans to clients stood at $6.6B in H1 2019, compared to $7.1B by December 2018. On the liabilities side, Customers’ deposits added 3.27% YTD to settle at $27.7B, while Shareholders’ equity also rose by a marginal 0.02%YTD to $3.3B by June 2019.

BLOM Bank: Financial Highlights,  H1 2019

(In Millions of USD ) 30-Jun-19 30-Dec-18 YTD
Total Assets                  38,531                  36,741 4.87%
Net Loans and Advances to Customers at Amortized Cost                     6,645                     7,149 -7.05%
Customers’ Deposits and Credit Balances at Amortized Cost                  27,685                  26,808 3.27%
Total Shareholders’ Equity                     3,269                     3,269 0.02%
Net Income*                  238.71                  243.79 -2.09%
*June 2018

Source: BLOM Bank

 

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