VOL. XLIII

No. 30

24-July-2000

LEBANON

Lebanons BLOM And Bank Of Beirut Post 1H 2000 Profit Increase

Banque du Liban et d'Outre-Mer SAL (BLOM), the largest bank in Lebanon, announced on 17 July that its consolidated net profits for the first six months of 2000 rose 14.6% to $39.25mn from $34.25mn for the same period in 1999. According to a BLOM statement, the banks consistent profit growth is due to continuous improvements in its cost-to-income ratio, which has fallen from 60.80% in 1996 to...