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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
06/29/201618:40:00Fed Approves Capital Plans for State Street, Bank of New York...
06/29/201616:59:00Fed Approves Capital Plans for State Street, Bank of New York...
06/29/201616:55:44Current Report Filing (8-k)
06/29/201616:48:00BNY Mellon to Repurchase up to $2.7 Billion of Common Stock;...
06/29/201607:31:00BNY Mellon Launches Real-Time Delivery of Daily Net Asset Values...
06/28/201616:42:52Annual Report of Employee Stock Plans (11-k)
06/28/201610:00:00BNY Mellon's Pershing Expands its Retirement Plan Network by...
06/27/201613:00:00Amherst Capital Hires Experienced Sell-Side Research Team to...
06/24/201608:36:00BNY Mellon Announces Results of Its 2016 Annual Stress Test
06/23/201617:00:00BNY Mellon Exceeds Fed Minimum Capital Level Under Stress Scenario
06/23/201606:00:00BNY Mellon to Host Second Quarter 2016 Earnings Conference Call...
06/14/201607:31:00BNY Mellon Awarded GSA Contract to Provide Loan Servicing and...
06/13/201617:40:00Libyan Fund Alleges Goldman Made $222 Million From Disputed Trades
06/09/201608:00:00Funded Status of U.S. Corporate Pensions Rises in May to 80.2...
06/08/201617:39:29Statement of Changes in Beneficial Ownership (4)
06/08/201611:00:00BNY Mellon's Pershing Adds AltX Hedge Fund Intelligence Platform...
06/08/201609:30:00BNY Mellon's Pershing Launches New Solutions and Resources to...
06/08/201607:30:00BNY Mellon to Speak at the 2016 Morgan Stanley Financials Conference...
06/07/201609:30:00BNY Mellon's Pershing Unveils New Technology Capabilities that...
06/07/201606:45:00Institutional investors are boosting alternatives allocations...

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