BLOM Bank was selected by the pre-eminent international magazine The Banker, part of the Financial Times Group, as “The Best Bank in Lebanon for 2011”, at The Bank of the Year Awards ceremony held in London  on November 30, 2011, by The Banker for distinguished banking performance. Mr. Saad Azhari, Chairman and General Manager of BLOM Bank, received the award on behalf of BLOM Bank and thanked The Banker for the award and what it signifies in trust and appreciation in the Bank.

During the ceremony, The Banker praised BLOM Bank’s financial results and performance, where profits reached 236.31 million dollars for the first nine months of 2011, and total assets increased by 6.02 percent from the same period last year to a total of $23.38bn. This also implied a rate of return on average assets of 1.38% and a rate of return on average equity of 18.07 percent.

BLOM Bank’s recognition as the “Best Bank in Lebanon for 2011”is attributed to its ability to deal efficiently with the global financial crises and the turmoil on the local and regional levels. This is also due to the trust that the Bank’s customers have in its precautionary and rewarding policies, which is the basis of its sustainable growth and its remarkable and effective performance.

The award also comes from the world’s longest running international banking title, The Banker, and is a testament to the strong management, sound business model, and prudent risk approach, which is followed by BLOM Bank in providing its universal banking services and in achieving its expansion plans.