Tag Archives: Blom Bank

BLOM Lebanon PMI: Macro highlights – April 2021

After a delay in government formation efforts, Lebanon’s economy is expected to contract further in 2021, in addition to drops in private consumption and exacerbating economic, exchange rate and debt crises. In the week ending April 29, 2021, lockdowns and curfews have been imposed on holidays which put additional pressures on the whole economy. Moreover,

BLOM BANK SAL Announces the Execution of an SPA in Relation to the Sale of its Stake in BLOM BANK Egypt SAE to Arab Banking Corporation (B.S.C.)

Beirut, Lebanon | 17 January 2021 – BLOM BANK SAL (“BLOM BANK”) and Arab Banking Corporation (B.S.C.) (“Bank ABC”) are pleased to announce that they have signed a definitive agreement on Friday 15 January 2021 whereby BLOM BANK SAL will sell its entire 99.4% stake in BLOM BANK Egypt SAE (“BLOM BANK Egypt”), its Egyptian

BLOM Lebanon PMI: Macro highlights – December 2020

Month of December marked a high manufacturing Purchasing Managers’ Index (PMI) for the US which increased from 56.7 in November to 57.1 in December, the best reading since September 2014. The last month of the year witnessed candidate Joe Biden’s victory after the electoral college voted on Monday, which guaranteed more than the 270-vote threshold.

BLOM Lebanon PMI: Macro highlights – October 2020

In its October World Economic Outlook, the IMF revised the Global growth in 2020 at -4.4% (the worst annual plunge since the Great Depression of the 1930s), reflecting better-than-anticipated second quarter GDP outturns in advanced economies where economic activities started to uplift. In this context, PMI index of the USA, Eurozone, UK, Russia and China

BLOM Lebanon PMI: Macro highlights – July 2020

During July, Lebanon continued to ease lockdowns and businesses reopened leading to a PMI reading of 44.9, up from 43.2 in June. However, the overall Lebanese business environment remained negative. In fact, Lebanon has been in severe economic, financial and social crisis mode since at least October 2019, which weak institutions and governance strength appear

BLOM Lebanon PMI: Macro highlights – June 2020

While the rest of the world moves beyond Coronavirus measures, Lebanon struggles to grapple with dual crises. Most nationsbegan to overcome the standstill generated by the notorious pandemic. This is apparent via PMI composite output index of the USA, Eurozone, UK, China, Brazil, Russia and Australia among others, which rose from all-time lows in May

BLOM Lebanon PMI: Deterioration in Business Conditions Deepens during April 2020

Commenting on the April 2020 PMI results, Sarah Hadchiti, Research Analyst at BLOMINVEST Bank, said : “The impact of Lebanon’s coronavirus lockdown fully materialized in April. Businesses are facing sharp economic uncertainties while consumers demand weakened, which generated losses reflected in the PMI of 30.9. Moreover, the Lebanese pound accelerated its depreciation and reached unprecedented

BLOM Bank S.A.L. – Notice to Shareholders

Increasing the Bank’s Common Equity Tier One Through Cash Contributions to Capital (According to BDL circular no. 532) BLOM Bank S.A.L. (Bank) is pleased to inform its Shareholders that the Extraordinary General Assembly held on January 14th, 2020 at the Bank’s Headquarters approved the terms and conditions of the first increase of the Bank’s Tier

BLOMINVEST BANK Celebrates the Winners of the 2ndNational Virtual Stock Exchange Competition

BLOM BANK, October 15, 2019 – BLOMINVEST BANK celebrated the winners of the second edition of the National Virtual Stock Exchange (VSE) Competition and announced a new partnership with the Capital Market Authority (CMA) to help nurture an educated investor-base in Lebanon, on Thursday September 26, 2019 during a gala dinner held in Hilton Downtown