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

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

Stock News for Bank of N Y (BK)
DateTimeHeadline
08/14/201417:34:27Trian Fund Increases Stake in PepsiCo
08/08/201418:30:04Judge Threatens to Hold Argentina in Contempt
08/08/201418:26:34U.S. Judge Threatens to Hold Argentina in Contempt of Court
08/05/201416:10:12Trustees Seek More Time on Citigroup Settlement
08/05/201415:52:28Trustees Get Extension in Citigroup's Mortgage-Securities Settlement
07/31/201412:31:35Bank of New York Mellon Still Has Argentina Payment Money...
07/31/201411:25:06Bank of New York Mellon Still Has Argentina Payment Money
07/22/201413:03:18Judge Delays Decision on Argentine Bonds
07/22/201412:53:15U.S. Judge Delays Decision on Paying Some Holders of Argentine...
07/18/201418:49:34U.S. Hot Stocks: Hot Stocks to Watch
06/30/201419:42:45Peltz's Trian Plants Its Flag in BNY Mellon - 3nd Update
06/30/201416:42:20MARKET SNAPSHOT: U.S. Stocks End Strong Quarter On Sour Note
06/30/201412:50:48MARKET SNAPSHOT: S&P 500 On Track For 6th Straight Quarterly...
06/30/201410:40:59Trian Takes Stake in Bank of New York Mellon - Update
06/27/201418:40:05Judge: Argentina's Attempt to Pay Debtholders Is Illegal
06/27/201418:39:51U.S. Judge Says Argentina Can't Pay Some Bondholders -- Update
06/27/201418:38:57U.S. Judge Says Argentina's Attempt to Pay Holders of Restructured...
06/26/201416:50:34Trustees Ask for Extension on Citigroup's $1.13 Billion Mortgage...
06/24/201417:53:25BNY Mellon Realignment Includes New Markets Group
05/27/201417:40:04Bank of New York Mellon to Log After-Tax Charge

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