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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; Order free Annual Report for The Bank of New York Mellon Corp. Visit or call +44 (0)208 391 6028

Stock News for Bank of N Y (BK)
12/02/201608:12:27Current Report Filing (8-k)
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11/29/201607:52:00Christopher Mager Named Head of New Global Innovation Group for...
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11/22/201607:07:00BNY Mellon Appointed Trustee and Paying Agent on Largest Ever...
11/17/201607:16:00BNY Mellon Launches Automated Medical Claims Payment Platform...
11/15/201616:54:42Current Report Filing (8-k)
11/15/201607:30:00BNY Mellon Launches Middle Office Solutions for State of Wisconsin...
11/14/201617:55:42Statement of Changes in Beneficial Ownership (4)
11/14/201617:53:52Statement of Changes in Beneficial Ownership (4)
11/14/201617:53:51Statement of Changes in Beneficial Ownership (4)
11/14/201617:53:50Statement of Changes in Beneficial Ownership (4)
11/14/201609:05:00OTC Derivatives Reform Creates Revenue Opportunities for Sovereign...
11/09/201614:01:00BNY Mellon to Present at the 2016 Bank of America Merrill Lynch...

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