Lebanon's BLOM Bank eyes expansion in Middle East.

By bne IntelliNews October 20, 2010
Lebanon's BLOM Bank plans to expand its presence in the Middle East region on expected higher income and the general growth in the Lebanese economy, The Daily Star reported citing the bank's Chairman Saad Azhari. The net profit of BLOM Bank rose 13.1% y/y in H1 to USD 156mn. The bank has operations in 12 countries across the Middle East and Europe. During the past few months, BLOM opened four more branches in Syria, three in Lebanon and plans to establish seven branches in Lebanon and two in Jordan during 2011.

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