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