BLOM Bank SAL : ENG (USD) Q2-2023

b l o m b a n k . c o m

Financial Results as at

30/6/2023

Consolidated Statement of Financial Position

	Assets (In USD thousand)	30/6/2023	31/12/2022
	Unaudited	Audited
	Cash and balances with central banks	14,232,463	19,070,510
	Due from banks and financial institutions	1,226,536	1,319,635
	Derivative financial instruments	1,031	563
	Financial assets at fair value through profit or loss (FVTPL)	361,039	360,911
	Net loans and advances to customers at amortised cost	1,062,957	1,709,631
	Net loans and advances to related parties at amortised cost	3,682	4,168
	Debtors by acceptances	3,465	3,864
	Financial assets at amortised cost	1,485,056	2,633,652
	Financial assets at fair value through other comprehensive income (FVTOCI)	39,116	44,434
	Property, equipment and right-of-use assets	159,099	477,599
	Intangible assets	948	1,471
	Assets obtained in settlements of debt	10,401	32,894
	Other assets	85,061	128,036
	Goodwill	1,397	1,368
	Total Assets	18,672,251	25,788,736

* The official USD/LBP rate was increased from 1507.5 to 15000 on 01-02-2023. 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. 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.

b l o m b a n k . c o m

Consolidated Statement of Financial Position

	Liabilities (In USD thousand)	30/6/2023	31/12/2022
	Unaudited	Audited
	Due to central banks	134,937	1,369,169
	Due to banks & financial institutions	169,613	117,140
	Derivative financial instruments	974	662
	Customers' deposits at amortised cost	16,631,877	20,358,208
	Related parties' deposits at amortised cost	42,502	48,624
	Debt issued and other borrowed funds	-	25,329
	Engagements by acceptances	3,470	3,869
	Other liabilities	252,366	498,989
	Provisions for risks and charges	134,287	233,480
	Subordinated notes	2,589	3,230
	Total Liabilities	17,372,615	22,658,700
	Shareholders' Equity
	Share capital - common shares	21,500	213,930
	Share premium on common shares	24,937	248,132
	Non distributable reserves	877,958	1,325,988
	Distributable reserves	49,872	469,692
	Treasury shares	(296)	(2,941)
	Retained earnings	77,197	852,513
	Reserves for revaluation variance-real estate	982	9,769
	Changes in fair value of financial assets at FVTOCI	168	92
	Foreign currency translation reserve	197,636	(53,104)
	Non-controlling interests	49,682	65,965
	out of which : Profit allocated to non-controlling interests	3,072	4,764
	Profit of the financial period - Profit / (Loss)	0	0
	Total Shareholders' Equity	1,299,636	3,130,036
	Total Liabilities and Shareholders' Equity	18,672,251	25,788,736

* The official USD/LBP rate was increased from 1507.5 to 15000 on 01-02-2023.

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

Guarantees

30/6/2023	31/12/2022
Unaudited	Audited

9,0786,797

46,29576,118

77,480126,376

Guarantees given to financial intermediaries	17,559	17,482
Guarantees received from financial intermediaries	31,758	28,915
Guarantees given to customers	191,397	250,332
Guarantees received from customers	6,429,769	8,587,504
Commitments on financial assets
Financial assets to receive	-	-
Financial assets to deliver	-	-
Operations in foreign currencies
Foreign currencies to receive	288,090	175,865
Foreign currencies to deliver	287,625	177,555
Commitments on term financial instruments	195,370	112,639
Other commitments	116,899	1,112,537
Fiduciary deposits	369,812	367,745
Under specific instructions	369,812	367,745
Financial assets under management	6,505,516	6,252,070
Bad loans fully provided for and transferred to off balance
sheet during the period	458,631	(204,647)

* The official USD/LBP rate was increased from 1507.5 to 15000 on 01-02-2023.

b l o m b a n k . c o m

Consolidated Income Statement

	(In USD thousand)	30/6/2023	30/6/2022
	Unaudited	Unaudited
	Interest and similar income	308,486	821,513
	Interest and similar expense	(34,366)	(83,043)
	Net interest income	274,120	738,470
	Fees and commission income	81,336	92,612
	Fees and commission expense	(51,428)	(173,333)
	Net fees and commission income	29,908	(80,721)
	Net gain (loss) from financial assets at fair value through profit or loss	25,297	(381,056)
	Net gain on financial operations	683	346
	Other operating income	1,712	1,727
	Total operating income	331,720	278,766
	Net (impairment loss) recovery on financial assets	(105,516)	84,794
	Discount on Loans	(273)	(635)
	Net operating income	225,931	362,925
	Personnel expenses	(108,764)	(140,397)
	Other operating expenses	(89,947)	(149,922)
	Depreciation of property, equipment and right-of-use-assets	(3,054)	(9,608)
	Amortization of intangible assets	(366)	(567)
	Total operating expenses	(202,131)	(300,494)
	Operating profit	23,800	62,431
	Net (loss) gain on disposal of property and equipment	(1)	435
	Profit before tax	23,799	62,866
	Income tax expense	(20,727)	(60,318)
	Net profit	3,072	2,548
	Attributable to equity holders of the parent	0	0
	Attributable to non-controlling interests	3,072	2,547

* The official USD/LBP rate was increased from 1507.5 to 15000 on 01-02-2023.