Lebanese bank profits – Audi Bank-down, BLOM Bank-up
Statistics regarding Lebanese banks were recently published in Al-Hayat newspaper. According to these figures, the Lebanese Audi Bank reported a net income decrease of seven percent during the first nine months of 2000 compared with the corresponding period of last year.
The bank posted a net operating income of LL 41.9 billion ($27.83 million) during the period in question. Sources at the bank related this profit fall to the general economic slowdown in Lebanon.
Nevertheless, the Bank Du Liban ET D’Outre-Mer Bank, or Blom Bank, posted a net operating income of $58.76 million from January through September of this year, reflecting an 11.78 percent increase compared with the first nine months of 1999.
The bank’s total assets value grew to reach $5.593 billion by the end of September 2000, a 17.9 percent growth. The total customer deposits of the Blom Bank grew to $4.848 billion during this period, constituting an 18 percent rise. –(Albawaba-MEBG)