BLOM BANK SAL b l o m b a n k . c o m
Financial Results as at
31/12/2022
Consolidated Statement of Financial Position
Assets (In LBP Million) | 31/12/2022 | 31/12/2021 | |
Unaudited | Audited | ||
Cash and balances with central banks | 28,758,173 | 27,678,591 | |
Due from banks and financial institutions | 1,989,288 | 1,873,164 | |
Derivative financial instruments | 848 | 4,351 | |
Financial assets at fair value through profit or loss (FVTPL) | 545,445 | 478,934 | |
Net loans and advances to customers at amortised cost | 2,578,466 | 3,370,460 | |
Net loans and advances to related parties at amortised cost | 6,283 | 8,870 | |
Debtors by acceptances | 5,825 | 5,409 | |
Financial assets at amortised cost | 3,970,347 | 5,411,444 | |
Financial assets at fair value through other comprehensive income (FVTOCI) | 66,985 | 64,265 | |
Property, equipment and right-of-use assets | 728,905 | 754,082 | |
Intangible assets | 2,342 | 3,079 | |
Assets obtained in settlements of debt | 49,588 | 46,862 | |
Other assets | 182,430 | 199,945 | |
Goodwill | 2,063 | 2,078 | |
Total Assets | 38,886,988 | 39,901,534 | |
Note of the Bank:
BLOM Bank is required to comply by all BDL circulars as stipulated in the Code of Money and Credit, especially article 208. As a result, the Bank has complied for the year 2021 accounts by these circulars when calculating expected credit losses in accordance with the specified ratios listed in Appendix 6 of BDL circular number 44, and as amended by the intermediate circular number 543 issued by BDL on February 3rd, 2020. It is necessary to point out that the deteriorating economic and monetary situation in the markets, and the continued absence of agreement on an adequate financial rescue plan, make it very difficult to estimate the negative impact of the current crisis on the Financial Statements according to the International Accounting Standards.
b l o m b a n k . c o m
Consolidated Statement of Financial Position
Liabilities (In LBP Million) | 31/12/2022 | 31/12/2021 | |
Unaudited | Audited | ||
Due to central banks | 2,064,023 | 2,872,037 | |
Due to banks & financial institutions | 176,526 | 226,769 | |
Derivative financial instruments | 998 | 7,868 | |
Customers' deposits at amortised cost | 30,690,850 | 30,587,056 | |
Related parties' deposits at amortised cost | 74,076 | 98,905 | |
Debt issued and other borrowed funds | 38,183 | 38,183 | |
Engagements by acceptances | 5,833 | 5,418 | |
Other liabilities | 768,555 | 970,755 | |
Provisions for risks and charges | 342,535 | 288,329 | |
Subordinated notes | 4,869 | 9,588 | |
Total Liabilities | 34,166,448 | 35,104,908 | |
Shareholders' Equity | |||
Share capital - common shares | 322,500 | 322,500 | |
Share premium on common shares | 374,059 | 374,059 | |
Non distributable reserves | 2,003,760 | 1,839,387 | |
Distributable reserves | 703,228 | 533,717 | |
Treasury shares | (4,434) | (4,434) | |
Retained earnings | 1,433,251 | 1,815,776 | |
Reserves for revaluation variance-real estate | 14,727 | 14,727 | |
Changes in fair value of financial assets at FVTOCI | 319 | 3,566 | |
Foreign currency translation reserve | (226,872) | (205,357) | |
Non-controlling interests | 100,002 | 102,685 | |
out of which : Profit allocated to non-controlling interests | 7,441 | 6,658 | |
Profit of the financial period - Profit / (Loss) | 0 | 0 | |
Total Shareholders' Equity | 4,720,540 | 4,796,626 | |
Total Liabilities and Shareholders' Equity | 38,886,988 | 39,901,534 | |
b l o m b a n k . c o m
Consolidated Statement of Financial Position
Off Financial Position (In LBP Million) | 31/12/2022 | 31/12/2021 | |
Unaudited | Audited | ||
Financing commitments | |||
Financing commitments issued | 10,246 | 17,848 | |
Financing commitments received from financial intermediaries | 114,038 | 106,306 | |
Commitments to lend | 190,512 | 172,827 | |
Guarantees | |||
Guarantees given to financial intermediaries | 26,354 | 47,015 | |
Guarantees received from financial intermediaries | 43,590 | 41,962 | |
Guarantees given to customers | 377,375 | 363,281 | |
Guarantees received from customers | 12,945,662 | 16,100,322 | |
Commitments on financial assets | |||
Financial assets to receive | - | - | |
Financial assets to deliver | - | - | |
Operations in foreign currencies | |||
Foreign currencies to receive | 265,117 | 745,644 | |
Foreign currencies to deliver | 267,664 | 743,311 | |
Commitments on term financial instruments | 169,804 | 843,024 | |
Other commitments | 1,677,150 | 2,352,423 | |
Fiduciary deposits | 554,375 | 258,519 | |
Under specific instructions | 554,375 | 258,519 | |
Financial assets under management | 9,135,960 | 6,311,386 | |
Bad loans fully provided for and transferred to off balance | |||
sheet during the period | (289,657) | 137,086 | |
b l o m b a n k . c o m
Consolidated Income Statement
(In LBP Million) | 31/12/2022 | 31/12/2021 | ||
For the period ended | Unaudited | Audited | ||
Continuing Operations | ||||
Interest and similar income | 2,414,841 | 2,597,702 | ||
Interest and similar expense | (249,102) | (352,081) | ||
Net interest income | 2,165,739 | 2,245,621 | ||
Fees and commission income | 301,434 | 177,624 | ||
Fees and commission expense | (412,177) | (423,551) | ||
Net fees and commission income | (110,743) | (245,927) | ||
Net loss from financial assets at fair value through profit or loss | (1,346,945) | (751,445) | ||
Out of which : Net gain on Interest Income | 8,767 | 1,326 | ||
Net gain on financial operations | 4,682 | 763 | ||
Other operating income | 43,347 | 46,511 | ||
Total operating income | 756,080 | 1,295,523 | ||
Net impairment loss on financial assets | 478,961 | (688,126) | ||
Discount on Loans | (1,918) | (43,985) | ||
Net operating income | 1,233,123 | 563,412 | ||
Personnel expenses | (818,922) | (250,821) | ||
Other operating expenses | (353,771) | (180,640) | ||
Depreciation of property, equipment and right-of-use-assets | (29,181) | (29,831) | ||
Amortization of intangible assets | (1,640) | (1,818) | ||
Total operating expenses | (1,203,514) | (463,110) | ||
Operating profit | 29,609 | 100,302 | ||
Provision For Risk and charges | (43) | 0 | ||
Net gain on disposal of property and equipment | 719 | 157 | ||
Profit before tax from continuing operations | 30,285 | 100,459 | ||
Income tax expense | (22,844) | (244,652) | ||
(Loss) Profit from continuing operations | 7,441 | (144,193) | ||
Profit from discontinued operations, net of tax | - | 150,851 | ||
Net profit | 7,441 | 6,658 | ||
Attributable to equity holders of the parent | 0 | 0 | ||
Attributable to non-controlling interests | 7,441 | 6,658 | ||
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Disclaimer
Blom Bank SAL published this content on 08 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2023 09:09:08 UTC.