Lebanon’s Blom Bank posts Q1 profit of $112 mln

Lebanese people walk past Lebanon's Central Bank building in Beirut. (AFP)

Lebanon’s Blom Bank reported a 3.5 percent year-on-year rise in first-quarter net profit, it said in a statement on Saturday.

Net profit for the three months to the end of March was $112.03 million, it said. The bank had reported a $108.23 million net profit for the same period a year ago.

It is Lebanon’s second-largest bank by market capitalization, according to Thomson Reuters data, just behind Bank Audi.

It said assets rose to $30.15 billion at the end of March.

Customers’ deposits increased to $25.13 billion and private loans stood at $7.1 billion, the statement said.

Last Update: Wednesday, 20 May 2020 KSA 09:54 - GMT 06:54