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|
|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%|
Source: BLOM Bank