As one of the oldest established banks in Lebanon, if not the region, Blom Bank has always been at the centre 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.
The bank’s renowned conservative management has paid off over the years: for decades, Blom Bank 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’ vision to the larger community, through its CSR activities like Blom Beirut Marathon, the Blom Mastercard “Giving Card,” and its educational initiative “Blom Shabeb.”
Throughout its history, Blom Bank has maintained a track record of exceptional performance. The bank’s operational and managerial efficiency in 2010 helped it maintain the lowest cost–to-income ratio among its peers, of 35.6 percent. Blom Bank’s profit increased by a CAGR of 13 percent to reach $330.7m by 2010. This implied the highest return on average equity at 21.1 percent among listed banks. In addition, assets increased at a CAGR of eight percent to a total of 22.4bn, and customer deposits increased at a CAGR of nine percent, to $19.6bn by December 2010.
Safety in numbers
Moreover, Blom’s consolidated Basel II Capital Adequacy reflected solid solvency with a ratio of 14 percent, well beyond the international minimum of eight percent. Additionally, Tier I Capital increased by 12.3 percent to $1.83m at end 2010, attributed mainly to increases in retained profits. In fact, the bank’s policy is to strike a balance with respect to maximising shareholder value without compromising its Tier I capital growth.
Blom Bank’s strategy is based on regional expansion and the diversification of its services to become a leading regional bank. In this respect, Blom Bank has the widest foreign presence among Lebanese Banks, and is currently present in Lebanon, Syria, Jordan, UAE, France, UK, Switzerland, Romania, Cyprus, Egypt, Qatar, and Saudi Arabia.
Blom conducts its international operations either directly or through its subsidiaries: 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 Arabi, Blom Invest Bank, Blom Development Bank (Islamic Bank), Arope Insurance, Arope Syria Insurance, Arope Egypt Insurance and Life Insurance.
In a drive to diversify its revenue base and enrich its asset class, Blom is prioritising its regional expansion through a policy of organic growth. To this end, the bank is capitalising on its 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 Group services
– Commercial banking
– Corporate banking
– Private and investment banking
– Asset management
– Retail banking
– Islamic banking
– Brokerage services
– Insurance products and services