BLOM Bank: Share Capital - Common Shares
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| Location Lebanon |
| Series ID 127264 |
| Reference LEB127264Q032025 |
| 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. |
| Description 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 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. It is necessary to point to 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. These financial statements were published in accordance with the requirements of the circulars issued by the Central Bank of Lebanon and the Banking Control Commission. These figures should not be relied upon as a basis for any decision related to the bank and must be read in conjunction with the complete set of financial statements and related disclosures as published on the Banks’s official website. Furthermore, these financial statements do not reflect any adjustments that may result from decisions issued by the Central Bank of Lebanon pursuant to Law No.330, dated December 4, 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 date 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 1Q 2025 |
| Useful links www.blombank.com |
| Tags |
Suggested citation. Use of data is subject to Terms & Conditions BLOM Bank, BLOM Bank: Share Capital - Common Shares, retrieved from BRITE; https://brite.blominvestbank.com/series/BLOM-Bank-Share-Capital-Common-Shares-127264/ |
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