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-1930-Dec-18YTD
Total Assets                 38,531                 36,7414.87%
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                 26,8083.27%
Total Shareholders’ Equity                    3,269                    3,2690.02%
Net Income*                 238.71                 243.79-2.09%
*June 2018

Source: BLOM Bank


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