BLOM Bank’s Profits Climbed to $365.37M

After being awarded Best Bank in Lebanon for 2014, BLOM Bank posted a 3.67% yearly surge in its net profits, to $365.37M in 2014. In details, net fees and commission income and net interest income jumped 6.93% and 18.23% to $564.87M and $528.26M, respectively. Similarly, net operating expense increased 9.15% to $323.70M. The balance sheet revealed a 7% annual growth in BLOM’s assets to $27.98B as net loans and advances to customers increased 8.93% to $6.89B. On the liabilities side, customers’ deposits at amortized costs added 6.28% to $23.88B. Shareholders’ equity swelled by 7.46% to $2.52B. BLOM’s capital adequacy ratio registered 17.5%, while its cost-to-income ratio of 38.9% is the lowest among Lebanese banks.

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