BLOM Bank
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| Public | |
| Industry | Banking |
| Founded | 1951 |
| Headquarters | Rue Verdun, Beirut, Lebanon |
| Website | http://www.blombank.com |
BLOM Bank (Banque du Liban et D’Outre Mer; بنك لبنان والمهجر) is a Lebanese bank established in 1951 and has been repeatedly selected as the Best Bank in Lebanon by several financial institutions such as Euromoney and The Banker. Its business operations are based on a universal banking model that includes: Commercial Banking, Corporate Banking, Private Banking, Investment Banking, Asset Management, Retail Banking, Islamic Banking, Brokerage Services, and Insurance Products and Services.
BLOM BANK started operating in 1951 in Beirut. Its establishment coincided with a booming period in the banking sector in Lebanon. By 1953, BLOM BANK started expanding and opened a branch in Jeddah, KSA. As the Lebanese Civil War broke out, BLOM BANK’s operations abroad increased to cater for the need of the Lebanese diaspora. Today, BLOM BANK is present in 12 countries across the world. On the leadership level, Dr. Naaman Azhari became the General Manager of the Bank in 1962 and Chairman of the Board and General Manager in 1971. In 2008, Dr. Naaman Azhari was appointed Chairman of BLOM BANK GROUP while his son, Mr. Saad Azhari, became Chairman of the Board and General Manager of BLOM BANK and also serves as Vice-President of the Association of Banks in Lebanon.
It changed its name to BLOM Bank in 2000. It acquired the Lebanese subsidiary of HSBC Bank Middle East, to be approved by the Banque du Liban.
As of 2016, it was "Lebanon's second-largest bank by market capitalisation."
It sponsors the Beirut Marathon.
BLOM Bank SAL, together with its subsidiaries, provides retail, commercial, investment, and private banking services in Lebanon, Europe, the Middle East, and North Africa. The company’s Retail Banking segment offers deposits, housing loans, consumer loans, credit cards, funds transfer and foreign exchange services, and other branch related services. Its Corporate Banking segment provides loans and other credit facilities, trade finance, and deposit and current accounts for corporate and institutional customers. The company’s Treasury, Money and Capital Markets segment offers treasury and investment products and services to investors and other institutional customers. Its Asset Management and Private Banking segment primarily provides investment products and services to institutional investors and intermediaries. The company also offers insurance products and services, such as life insurance, including term life, education plans, retirement plans, and investment products; medical insurance comprising hospitalization plans and out-hospital plans; and motor insurance consisting of all risk, third party liability, and orange card.
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