BLOM Bank posts $39.48 million net profits for H1 2001
Lebanon’s largest bank, BLOM Bank S.A.L., posted net profits of $39.48 million for the first half of 2001—a mere 0.5 percent rise compared to the $39.25 million figure in the corresponding period of last year.
The bank’s deposits rose nine percent to $5.18 billion, whereas total assets increased by eight percent to $5.88 billion at the end June this year.
Total deposits and cash in foreign currency surged 28.82 percent, thus increasing the liquidity ratio to 46.82 percent, three-fold the figure required by the Central Bank of Lebanon.
BLOM Bank’s ratio of doubtful loans to total loans stands at 6.22 percent—approximately nine percent lower than the average ratio for the Lebanese banking sector. — (MENA Report)
© 2001 Mena Report (www.menareport.com)