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Blom Bank profits up to $252 million.

Byline: news@cpifinancial.net (Staff Writer)

Lebanon's Blom Bank has released its financial results for 2008 which show that the bank recorded profits of $252 million, up from $47 million compared to 2007.

The Return on Average Equity (ROAE) was at 20.1 per cent compared to 17.4 per cent in 2007.

A statement from Blom Bank said that the profits were "as a result of a strong and balanced growth in all the balance sheet items with the most effective control of risks and costs. This control, proved to be crucial and absolutely vital, in light of the difficulties affecting currently the largest international banks."

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Publication:CPI Financial
Article Type:Financial report
Date:Feb 8, 2009
Words:121
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