Lebanon's Blom Bank Posts Modest Rise In First-Quarter Profit

Date : 04/23/2012 @ 12:51PM
Source : Dow Jones News
Stock : Bank of New York Mellon Corp. (The) (BK)
Quote : 47.66  0.91 (1.95%) @ 2:56PM

Lebanon's Blom Bank Posts Modest Rise In First-Quarter Profit

Bank OF N Y (NYSE:BK)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more Bank OF N Y Charts.

BEIRUT (Zawya Dow Jones)--Lebanon's Blom Bank SAL (BLBD.LE), one of the country's two largest lenders, said Monday that its first-quarter net profit rose 2.5% from a year earlier to $84.12 million despite additional provisions of $20 million.

"These results commend the bank's performance amid operating conditions characterized by political upheavals in the region, and by debt crises and economic slowdown at the global level," the lender, whose major shareholder is Bank of New York Mellon Corp. (BK), said in a statement.

The bank's total assets stood at $23.8 billion at the end of March, up 4.3% from a year earlier, according to the statement. Deposits rose 4% to $20.7 billion while lending increased 5.5% to $5.7 billion.

The bank's shares ended up 0.8% Monday at $7.81 in an overall higher market.

-By Shikrallah Nakhoul, Zawya Dow Jones; +961 1 985757; shikrallah@zawya.com

Order free Annual Report for The Bank of New York Mellon Corp.

Visit http://djnweurope.ar.wilink.com/?ticker=US0640581007 or call +44 (0)208 391 6028




Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.