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  • 31-10-18

    Lebanon's Blom Bank jumps 7.3 percent in Jan-Sept profit

    (MENAFN) Lebanon's Blominvest Bank was confirmed to have witnessed a boost in its profits by 7.3 percent from January to September in 2018.

    The profit increase was explained to have been driven by managerial and cost efficiency, along with income from its overseas operations.

    The Lebanese giant bank also announced that it reached USD382.95 million in its net profit by the end of September.

    The Lebanese bank unveiled the rate of return on average equity to have stood at 16.5 percent during the first nine months of this year, while the rate of return on average assets hit 1.5 percent.

    The bank added "in a difficult environment characterised by a slowing economy and continuing political paralysis, Blom Bank [has] managed to maintain steady profitability."

    MENAFN3110201800450000ID1097642291

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