Constantly developing and improving its services, BLOM BANK Group provides universal banking services that meet all of its clients’ needs.
These services include: Commercial Banking, Corporate Banking, Private and Investment Banking, Asset Management, Retail Banking, Islamic Banking, Brokerage Services and Insurance Products and Services.
As one of the oldest established banks in Lebanon, if not the region, BLOM BANK has always been at the center of the country’s banking system. Its universal banking services revolve around trust and credibility, built with its clients through long-term personal relationships, integrity, and the strong financial results that it has consistently delivered. And the bank’s renowned conservative management has paid off over the years: for decades, BLOM BBANK has been the most profitable and among the largest banks in Lebanon. It is proud to have become its clients’ preferred banking partner and investment reference, meeting all their financial needs and ensuring their “Peace of Mind”. BLOM BANK is also proud to extend this “Peace of Mind” to the larger community, through its CSR activities like BLOM Beirut Marathon, the BLOM MASTERCARD “Giving Card ”, and its educational initiative “BLOM SHABEB”.
Throughout the years, BLOOM 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 1Q-2011 the lowest cost–to-income ratio among its peers at 377.9 percent. On the other hand, BLOM BANK’s profit in 1Q-22011 increased by 11.5 percent from the same period last year to reach $82.07m. This implied the highest return on average equity at 18.4 percent among listed banks. In addition, assets increased by 8 percent to a total of $22. 81 bn and customer deposits increased by 8.5 percent to a total of $19.88 bn.
Moreover, BLOM’s consolidated Basel II Capital Adequacy reflected solid solvency with a ratio of 13.8 percent, well beyond the international minimum of 8 percent. Additionally, Tier I Capital increased by 9.2 percent to $1.85 bn, attributed mainly to increases in retained profits. In fact, the Bank’s policy is to strike a balance with respect to maximizing shareholder value without compromising its Tier I capital growth.
BLOM BANK’s strategy is based on regional expansion to markets with strong fundamentals and on the diversification of its universal 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 112 countries: Lebanon, Syria, Jordan, UAE, France, UK, Switzerland, Romania, Cyprus, Egypt, Qatar, and Saudi Arabia. It conducts its worldwide operations through a network of more than 156 banking and financial units, either directly or through its subsidiaries, which are: BANK OF SYRIA AND OVERSEAS, BLOM BANK FRANCE, BLOM BANK (SWITZERLAND), BLOM BANK EGYPT, BLOM EGYPT SECURITIES, SYRIA AND OVERSEAS FOR FINANCIAL SERVICES, BLOM BANK QATAR, BLOM INVEST SAUDI ARABIA, BLOM INVEST BANK, BLOM DEVELOPMENT BAN K (ISLAMIC BANK), AROPE INSURANCE, AROPE SYRIA INSURANCE, AROPE EGYPT INSURANCE and LIFE INSURANCE. And in its drive to diversify its revenue base and enrich its asset class, the bank is prioritizing its regional expansion and adopting an organic growth policy. To this end, the bank is capitalizing on its regional competitive edge in terms of common culture, existing relationships, and the replicability of its excellent products to strengthen its foothold in the region and beyond.
BLOM BANK Profile
Awards recognition for BLOM BANK:
Banker Middle East
Best Car loan in the Middle East for 2011
Best Personal loan in the Middle East for 2011
Best Retail Bank in the Middle East for 2010
Best Trade Finance Offering in the Middle East for 2010
Best Investment Bank in the Middle East for 2010
Best Mutual Fund in the Middle East for 2010
CEO of the year for 2010 ((Mr. Saad Azhari – BLOM BANK)
Best Bank in Lebanon for 2010
Best Asset Manager & Broker Bank for 2010
Best Brokerage Award for 2010
Best Local Investment Bank in Lebanon for 2010
Best Bank in Syria for 2010
Best Bank in Syria for 2011
Best Foreign Exchange for 2011
Best Trade Finance Bank in Lebanon for 2011
Best Consumer Internet Bank for 2010
Best Banking Group in Lebanon for 2011
Best Trade Finance Bank in Lebanon for 2010
Best Balanced Fund Award for 2010
No 1 banking brand in Lebanon for 2010
Global Banking and Finance Review
Best Bank in Lebanon for 2011
•• BLOM’s operational efficiency enabled it to achieve in 1Q-2011 a cost-to-income ratio of 37.9 percent.
•• The bank is capitalising on its regional competitive edge