Lebanon: Best Bank and Investment Bank: Bank Blom
Bahrain I Egypt I Iran I Israel I Jordan I Kuwait I Lebanon I Morocco I Oman I Qatar I Saudi Arabia I United Arab Emirates I Lifetime Achievement As always the competition to be best bank in Lebanon is extremely fierce. Bank Audi has again performed exceptionally well but by the narrowest of margins it is this year just beaten by Bank Blom.
Both banks have produced excellent results and provide quality services. They have also pursued similar strategies for international expansion.
But, on performance indicators, including growth in assets, deposits, profits and returns on average assets, Bank Blom is just ahead of its rivals. And in the past year it has developed a range of innovative products and services, including new credit cards and insurance services that have enabled it to lead an increasingly competitive retail banking market.
On the corporate banking side, Bank Blom has increased its market share. It has also launched an Islamic banking service and pursued an aggressive international expansion strategy.
Blom was the first Lebanese bank to enter Egypt with the purchase of Misr Romanian Bank and is expanding its business in Jordan by opening new branches; in Syria, it is expanding its local network and pioneering the development of the insurance sector.