BLOM Bank: Cumulative Results for the Period
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| Location Lebanon |
| Series ID 127266 |
| Reference LEB127266Q122021 |
| Currency code USD |
| Source Economena Analytics, BLOM Bank |
| Frequency Quarterly |
| Unit Million |
| Aggregation End of Period |
| Note Unaudited. Consolidated. 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 2020 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 567 issued by BDL on August 26th, 2020. 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. The official Lebanese Pound rate was increased from 1507.5 to 15,000 per dollar on February 1, 2023. The official Lebanese Pound rate was increased from 15,000 to 89,500 per dollar on January 1, 2024. The Net Income for the year shown in the Profit and Loss Statement, is mainly unrealized Income obtained from the FX translation of Foreign Currency Monetary Assets and Liabilities to Lebanese Pound, for the accounts of banks and their affiliated subsidiaries in Lebanon, at the exchange rate set at the time of preparing the Financial Statements in accordance with the Circular No. 300 issued by Banking Control Commission on November 27th, 2023. |
| Start date 1Q 2011 |
| End date 4Q 2021 |
| Useful links www.blombank.com |
| Tags |
Suggested citation. Use of data is subject to Terms & Conditions BLOM Bank, BLOM Bank: Cumulative Results for the Period, retrieved from BRITE; https://brite.blominvestbank.com/series/BLOM-Bank-Cumulative-Results-for-the-Period-127266/ |
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