BLOM BANK SAL b l o m b a n k . c o m
Financial Results as at
30/6/2022
Consolidated Statement of Financial Position
Assets (In USD Thousand) | 30/6/2022 | 31/12/2021 | |
Unaudited | Audited | ||
Cash and balances with central banks | 18,430,431 | 18,360,591 | |
Due from banks and financial institutions | 1,222,504 | 1,242,563 | |
Derivative financial instruments | 9,238 | 2,886 | |
Financial assets at fair value through profit or loss (FVTPL) | 362,276 | 317,701 | |
Net loans and advances to customers at amortised cost | 2,006,326 | 2,235,794 | |
Net loans and advances to related parties at amortised cost | 4,050 | 5,884 | |
Debtors by acceptances | 3,085 | 3,588 | |
Financial assets at fair value through other comprehensive | |||
income (FVTOCI) | 45,729 | 42,630 | |
Financial assets at amortised cost | 3,367,483 | 3,589,681 | |
Assets obtained in settlements of debt | 31,753 | 31,086 | |
Property, equipment and right-of-use assets | 489,176 | 500,220 | |
Intangible assets | 1,504 | 2,042 | |
Other assets | 155,690 | 132,633 | |
Goodwill | 1,343 | 1,379 | |
Total Assets | 26,130,588 | 26,468,678 | |
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 to 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. With the necessity to point to the free fall of the Lebanese economy and the continued lack of an adequate financial recovery plan which leads to a difficulty in estimating the negative effect of the current crisis on the Financial Statements according to the International Accounting Standards.
Consolidated Statement of Financial Position
Liabilities (In USD Thousand)
Due to central banks
Due to banks & financial institutions
Derivative financial instruments
Customers' deposits at amortised cost
Related parties' deposits at amortised cost
Debt issued and other borrowed funds
Engagements by acceptances
Other liabilities
Provisions for risks and charges
Subordinated notes
Total Liabilities
Shareholders' Equity
Share capital - common shares
Share premium on common shares
Non distributable reserves
Distributable reserves
Treasury shares
Retained earnings
Reserves for revaluation variance-real estate
Changes in fair value of financial assets at FVTOCI
Foreign currency translation reserve
Non-controlling interests
out of which : Profit allocated to non-controlling interests Profit of the financial period - Profit
Total Shareholders' Equity
Total Liabilities and Shareholders' Equity
b l o m b a n k . c o m
30/6/2022 | 31/12/2021 |
Unaudited | Audited |
1,862,938 | 1,905,166 |
158,894 | 150,427 |
8,955 | 5,219 |
19,720,829 | 20,289,921 |
62,811 | 65,609 |
25,323 | 25,329 |
3,103 | 3,594 |
672,925 | 643,949 |
447,058 | 191,263 |
4,255 | 6,360 |
22,967,091 | 23,286,837 |
213,930 | 213,930 |
248,132 | 248,132 |
1,329,187 | 1,220,157 |
471,106 | 354,041 |
(2,941) | (2,941) |
978,255 | 1,204,495 |
9,769 | 9,769 |
1,001 | 2,366 |
(151,989) | (136,224) |
67,047 | 68,116 |
2,547 | 4,417 |
- | - |
3,163,497 | 3,181,841 |
26,130,588 | 26,468,678 |
b l o m b a n k . c o m
Consolidated Statement of Financial Position
Off Financial Position (In USD Thousand)
Financing commitments
Financing commitments issued
Financing commitments received from financial intermediaries Commitments to lend
30/6/2022 | 31/12/2021 |
Unaudited | Audited |
7,11811,839
59,62870,518
118,106114,645
Guarantees | ||
Guarantees given to financial intermediaries | 20,106 | 31,187 |
Guarantees received from financial intermediaries | 29,616 | 27,835 |
Guarantees given to customers | 224,901 | 240,982 |
Guarantees received from customers | 9,375,274 | 10,680,147 |
Operations in foreign currencies | ||
Foreign currencies to receive | 423,418 | 494,623 |
Foreign currencies to deliver | 423,254 | 493,075 |
Commitments on term financial instruments | 485,510 | 559,220 |
Other commitments | 1,558,995 | 1,560,480 |
Fiduciary deposits | 285,437 | 171,489 |
Under specific instructions | 285,437 | 171,489 |
Financial assets under management | 4,537,540 | 4,186,657 |
Bad loans fully provided for and transferred to off balance sheet | ||
during the period | 26,539 | 90,936 |
b l o m b a n k . c o m
Consolidated Income Statement
(In USD Thousand) | 30/6/2022 | 30/6/2021 | ||
For the period ended | Unaudited | Unaudited | ||
Continuing Operations | ||||
Interest and similar income | 821,513 | 872,760 | ||
Interest and similar expense | (83,043) | (135,355) | ||
Net interest income | 738,470 | 737,405 | ||
Fees and commission income | 92,612 | 51,853 | ||
Fees and commission expense | (155,997) | (15,972) | ||
Net fees and commission income | (63,385) | 35,881 | ||
Net (loss) from financial assets at fair value through profit or loss | (381,056) | (274,519) | ||
Net gain (loss) on financial operations | 346 | 185 | ||
Other operating income | 1,887 | 4,696 | ||
Total operating income | 296,262 | 503,648 | ||
Net impairment loss on financial assets | 66,662 | (326,395) | ||
Net operating income | 362,924 | 177,253 | ||
Personnel expenses | (140,397) | (82,361) | ||
Other operating expenses | (149,922) | (50,798) | ||
Depreciation of property, equipment and right-of-use-assets | (9,608) | (9,910) | ||
Amortization of intangible assets | (567) | (675) | ||
Total operating expenses | (300,494) | (143,744) | ||
Operating profit | 62,430 | 33,509 | ||
Net gain on disposal of property and equipment | 435 | 33 | ||
Profit before tax from continuing operations | 62,865 | 33,542 | ||
Income tax expense | (60,318) | (39,380) | ||
(Loss) Profit from continuing operations | 2,547 | (5,838) | ||
Profit from discontinued operations, net of tax | - | 7,481 | ||
Profit for the period | 2,547 | 1,643 | ||
Attributable to equity holders of the parent | - | 79 | ||
Attributable to non-controlling interests | 2,547 | 1,564 | ||
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Disclaimer
Blom Bank SAL published this content on 03 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 07:30:02 UTC.