Blom Bank: Growing Despite Regional Problems
Blom Bank is traditionally a commercial bank. However, the bank has expanded gradually to become a full service bank. Blom Bank has become the number one bank in Lebanon and the region in terms of retail banking. Furthermore, the bank provides private banking, investment banking, islamic banking, and fund management services.
Lebanese banks, including Blom Bank, have recently made sure to comply with the changes and new laws being implemented due to FATCA. Although changes needed to be made, 2013 was a great year for Blom Bank. Saad Azhari, General Manager of Blom Bank, states, “Our profits increased by 5.1%. We had growth in our balance sheet, and our assets grew by 4.4%.”