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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)
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09/09/201416:20:14Lawmakers Press for Lower Risk from Big Banks
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08/26/201411:15:20Argentina Revokes BNY Mellon's Operating Approval -- Update
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08/25/201423:50:39U.K. Suit Against BNY Mellon on Argentine Debt
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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

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