Throughout the years, BLOM BANK has also maintained a track record of exceptional performance that carried over to this year. On the one hand, BLOM’s operational and managerial efficiency has enabled it to maintain in 2Q-2011 the lowest cost–to-income ratio among its peers at 37.7 percent. On the other hand, BLOM BANK’s profit in 2Q-2011 increased by 4.6 percent from the same period last year to reach $163.57m.
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- Throughout the years, BLOM BANK has also maintained a track record of exceptional performance that carried over to this year. On the one hand, BLOM’s operational and managerial efficiency has enabled it to maintain in 2Q-2011 the lowest cost–to-income ratio among its peers at 37.7 percent. On the other hand, BLOM BANK’s profit in 2Q-2011 increased by 4.6 percent from the same period last year to reach $163.57m. This implied the highest return on average equity at 18.7 percent among listed banks. In addition, assets increased by 7.4 percent to a total of $23.11bn and customer deposits increased by 9.5 percent to a total of $20.45bn. BLOM BANK’s strategy is based on regional expansion to markets with strong fundamentals and on the diversification of its services so as to become a leading regional bank in the Arab world. In this respect, BLOM BANK has the widest foreign presence among Lebanese Banks, and is currently present in the following 12 countries: Lebanon, Syria, Jordan, UAE, France, UK, Switzerland, Romania, Cyprus, Egypt, Qatar, and Saudi Arabia.
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- Throughout the years, BLOM BANK has also maintained a track record of exceptional performance that carried over to this year. On the one hand, BLOM’s operational and managerial efficiency has enabled it to maintain in 2Q-2011 the lowest cost–to-income ratio among its peers at 37.7 percent. On the other hand, BLOM BANK’s profit in 2Q-2011 increased by 4.6 percent from the same period last year to reach $163.57m.
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