Awards for Excellence 2008: Lebanon
Best bank: Blom Bank
This award is always one of the most tightly contested and this year is no exception. What stands out over the past 12 months is how well Lebanon’s leading banks have fared given the difficult political situation there. But then, unfortunately, they have plenty of experience of operating in such an unpropitious environment.
The award goes to Blom Bank, which narrowly edges out its great rival Bank Audi, as well as Byblos Bank and Fransabank.
A comparison of the performances of Blom and Audi in the quarter ending March 2008 shows that Blom’s business has the greater momentum. It grew total assets by 5.01% on a quarter-on-quarter basis compared with Audi’s growth of 1.76% (Byblos did even better than Blom, with 6% growth).
Blom outperforms Audi in profits, too.