Investor Presentation
|
|
- Barnard Parks
- 5 years ago
- Views:
Transcription
1 Investor Presentation 2018
2 1. Introduction 2. Financial Overview 3. Business Overview 4. BLOM s Shares 5. Appendix
3 BLOM Bank at a glance 2018 Overview of BLOM Bank BLOM Bank Shareholders BLOM is the most profitable bank in Lebanon in terms of Net Income BLOM Bank is the 2 nd largest bank in the country in terms of assets with a workforce of +5,000 employee Established in 1951 and headquartered in Lebanon, the Bank and its subsidiaries have 91 branches across Lebanon and 137 branches overseas. Rest of Shareholders 26.39% Bank of NEWYORK* 34.37% Universal Banking Services Traditional banking products and services Broad spectrum of corporate lending and Islamic finance Brokerage and custody services The bank s shares are listed on the Beirut Stock Exchange (since 2008) and Luxembourg Stock Exchange (since 2006). Out of the total common shares, 34.37% are listed as Global Depository Receipts (GDRs) in the LuxSE and traded on the London Stock Exchange Khoury Family 1.89% Saade Family 2.55% Jaroudi Family 2.17% Chaker Family 4.82% Azhari Family 7.53% Actionnaires Unis 1.83% Banorabe S.A SPF** 18.45% Most Awarded Local Bank by Prominent International Sources Key Finance Highlights ($M) Assets 36,745 32,544 29,518 Equity 3,268 3,005 2,932 Deposits 27,220 26,642 24,811 Loans 7,163 7,538 7,164 Net Income Loans/ deposit (%) Cost / Income (%) % % ROAA (%) ROAE (%) Gross NPL Ratio (%) Employees 5, ,085 4,673 Starting 1998, and after the issuance of Global Depository Receipts (GDR) by BLOM Bank Shareholders, the Bank of New York as Depository, became shareholder on the Bank s register ** The major shareholders of Banorabe S.A. SPF (formerly Banorabe Holding S.A.) are almost the same family as in BLOM Bank (except Bank of New York) 1/ 17
4 BLOM Bank offers an International Banking Platform / 17
5 Key Highlights 2018 Solid and Consistent Financial Track Record The most profitable local bank with consolidated net profits of US$510M in 2018 Strong Capitalization (CAR of 18.92% as of December 2018) Liquid Balance sheet Net Loans to Net Deposits ratio at 26.32% as of December 2018 Experienced Management Strong Management team with extensive experience and good reputation Professional Board of Directors with 7 independent members Reputable shareholders with Bank of New York acting as the Depository bank (for the bank s GRDs) since 1998 Internationally and Locally Renowned Bank Listed on Luxembourg Stock Exchange and Beirut Stock Exchange Internationally rated: Caa1 (Moody s), B-(Standard & Poor s) & B (Capital Intelligence) Highest Corporate Governance Score in Lebanon by Capital Concept s.a.l. Most awarded Local Bank by Prominent International Sources: The Banker, Euromoney, Global Finance, Global Investor. Resilient Macro Environment Banking sector s solid reputation being one of the country s most valuable assets Diversified economy, rich in human capital 94% literacy rate One of the oldest and most comprehensive legal/institutional frameworks among emerging market countries Diversified Operations One of the Oldest and Largest Local Banks Universal Banking Services: Traditional banking products and services, broad spectrum of corporate lending and Islamic finance, brokerage and custody services Geographic presence throughout MENA & Europe: Lebanon, Jordan, Egypt, UAE, KSA, Qatar, Iraq, UK, France, Switzerland, Romania, Cyprus Approximately 38% of the Bank s Net Loans and Advances to Customers are granted to customers outsidelebanon as of December 2018 Founded in 1951: one of the oldest local banks 3rd largest branch network Top-tier bank in Lebanon with a large and loyal customer base 3/ 17
6 BLOM Bank Strategy 2018 The Bank s primary objectives are to maintain its lead position among Lebanese banks, while diversifying its business and expanding cautiously Overseas Market Diversify the Bank s income by taking advantage of economic and business opportunities present in regional economies Increase share of its overseas operations in terms of business volume and profits, currently at 13.73% in terms of profits Currently present in the form of branches, subsidiaries or representative offices in the following countries: Egypt, Jordan, UAE, KSA, Qatar, Iraq, Switzerland, UK, France, Romania, Cyprus Lebanese Market Ranks #1 in Lebanon, in terms of Income generated from Lebanon business, reaching US$419 million and US$440 million as of December 2017 and December 2018 respectively Prudently increase the number of branches through both organic growth and the acquisition of smaller banks Acquired the assets and liabilities of HSBC Lebanon in June 2017 Focus on the bank s digital outreach Digital Expansion Increase online services by providing a technology-oriented and safe banking environment Currently offers a range of e-banking and other services, including internet banking, live video chat, and BLOM e-cash Diversify its business activities to become a universal banking model Business Activities Expand the operations of BLOM s investment banking arm by enhancing its private and investment banking and capital market activities Highly liquid with a potential upside to further increase exposure to Corporates and SMEs Established an asset management company in / 17
7 Corporate Governance 2018 BLOM Bank applies international Compliance and AML standards and strives to abide by international corporate governance practices. 6 Board Committees Audit Committee 8 Independent Board members* Compliance Committee Risk Management Committee Fintech Committee Board of Directors Nomination and Remuneration Committee Consulting, Strategy and Corporate Governance Committee 28 Management Committees BLOM Bank SAL was the first bank in Lebanon to sign the Investors for Governance and Integrity (IGI) Declaration. * The Board of Directors of BLOM Bank SAL includes 11 members: 8 independent members and 3 executive members 5/ 17
8 1. Introduction 2. Financial Overview 3. Business Overview 4. BLOM s Shares 5. Appendix
9 Earnings 2018 Earnings Growth ($M) [Net Income $510.4M; 5.18% YoY; CAGR 5.6%] Earnings Breakdown by Country ($M) 2018 % Total %YoY Lebanon Egypt Jordan (9.53) UAE KSA (8.52) Qatar (4.77) Iraq (100.00) (1.18) 4.03 (9.27) (2.39) Income Statement ($M) Net interest income Net Fees and commission income Net gain (loss) on financial assets & liabilities designated at fair value through profit & loss Net gain (loss) on financial operations (2.94) Other operating income Total operating income 1, Credit loss expense (12.41) Net operating income 1, Personnel charges (231.07) General and other operating expenses (126.96) Depreciation of tangible fixed assets (24.98) Amortization of intangible fixed assets (1.25) Total operating expenses (384.26) Net operating profit Net profit (loss) from sale or disposal of other assets (0.84) Net profit before taxes Income tax (119.67) Net profit Europe (51.60) Treasury, Money and Capital Markets 55.4% Earnings Breakdown by Business Segments HI 2018 Insurance 0.9% $243.8M Banking 40.6% Asset Management and Private Banking 3.0% 6/ 17
10 Assets 2018 Asset Growth [$36.7Bn; 12.9% YoY; 2.9% QoQ; CAGR 6.4%] Breakdown of Assets by Country ($M) 2018 % Total % YoY Lebanon 30, ,496 23,999 22,402 21, Egypt 2, ,951 1,519 2,527 2,093 Jordan 1, (4.20) 1,047 1,082 1,106 1,102 UAE 1, KSA Qatar (16.19) Iraq (13.95) Europe 1, ,785 1,813 1,811 1, Breakdown of Assets by Uses Breakdown of Assets by Funding Loans & Advances to customers 19.5% Other Assets 2.4% ($M) 2018 % Total % YoY Deposits 27, ,642 24,811 25,091 24,006 Corporate Securities 2.1% Government Securities 8.5% $36.7Bn Cash & Central Bank 63.2% Central Bank 4, , Interbank Others (6.62) 1,012 1, Interbank 4.3% Equity 3, ,005 2,932 2, / 17
11 Equity Equity Growth [$3.27Bn; 8.8% YoY ; 3.8% QoQ; CAGR 7.13%] Shareholder s Equity by Country ($M) 2018 % Total % YoY Lebanon 2, ,120 2,164 1,821 1,662 Egypt Jordan UAE KSA Qatar Iraq Europe Shareholders Equity Book Value Calculation Capital Adequacy Ratios (%) ($M) Shareholders Equity 3,268 3,005 2,932 2,721 2,523 Less: Preferred Shares Minority Interest Tier II Dividends on Preferred Shares Shareholders Equity for 3,207 2,944 2,659 2,427 2,232 Book Value Calculation Bookvalue Per Share QIII 2018 Common Tier 1 CAR Tier 1 CAR Total CAR 8/ 17
12 Deposits 2018 Deposit Growth [$27.22Bn; 2.2 % YoY ; 0.45% QoQ; CAGR 4.18%] Deposits Breakdown by Country ($M) 2018 % Total % YoY Lebanon 22, ,878 20,597 19,868 19,047 Egypt 1, ,711 1,327 2,160 1,776 Jordan (4.64) UAE Qatar (50.00) Iraq Europe 1, (5.51) 1,416 1,329 1,295 1, Deposits by Type of Client** Total Deposits by Currency QIII 2018 Corporate 15.0% EGP 5.20% Others 5.01% Individuals 49.9% GBP 1.22% EURO 6.38% LBP 23.49% $27.2Bn* $27.1Bn HNW 35.1% * Excluding BLOM Euro CD s of $303M ** Individuals < $1M ; HNW >$1M USD 58.70% 9/ 17
13 1. Introduction 2. Financial Overview 3. Business Overview 4. BLOM s Shares 5. Appendix
14 Overview of BLOM Bank s Business Segments 2018 BLOM Bank offers a full array of Universal Banking Services Commercial Banking Lebanon, Egypt, UAE, Jordan, Iraq, Qatar, Europe Corporate Banking Lebanon, Egypt, UAE, Jordan, Iraq, Qatar, Europe Retail Banking Lebanon, Egypt, Jordan Islamic Banking Lebanon Investment Banking Lebanon, KSA Private Banking Lebanon, Switzerland Brokerage Lebanon, Egypt, Jordan Asset Management Lebanon, Egypt, KSA Insurance Lebanon, Egypt 10/ 17
15 Assets Utilization 2018 Sovereign Exposure [$26.1B] Corporate Securities [Bonds 73.4% ; Equities 17.4% ; Funds 9.2%] ($B) Central Bank BDL in LBP in FC Other International 62.3% $783 M Regional 37.7% Government Securities Domestic Exposure FC Exposure Commercial Loans * Retail Loans ($M) Corporate Loans 1,708 1,807 1,690 1,632 SME s Loans 1,505 1,504 1,411 1,409 Real Estate ,018 Others Total 4,117 4,304 4,189 4,259 ($M) 2018 Lebanon Egypt Jordan Housing 1,918 1, Car Personal Cards Total 3,011 2, * Excluding related parties loans & insurance receivables 11/ 17
16 Loans 2018 Net Lending Growth ($M) [$7.16Bn; (4.97%) YoY; (2.05)% QoQ; Loan to Deposit 26.32%] Breakdown of Lending by Country 5,178 5,591 6,028 6,345 6,910 7,196 7,164 7,538 7,163 ($M) 2018 % Total % YoY Lebanon 4, (10.00) 5,432 5,277 5,165 5,054 Egypt Jordan UAE Qatar (19.79) Iraq Europe Net Interest Margin [Net Interest Income $842.7M; 14.25% YoY; CAGR 5.9%] Breakdown of Lending by Currency (QIII 2018) EGP 7.4% Others 4.9% 2.3% 2.3% 2.4% JOD 6.8% LBP 23.1% 2.3% 2.3% 2.2% 2.2% GBP 0.9% EURO 2.9% $7.31Bn 2.1% 2.1% USD 54.0% 12/ 17
17 Retail Lending 2018 Retail Lending Growth ($M) [(5.94 %) YoY] Breakdown of Retail Lending by Country 2,414 2,690 2,904 2,904 3,201 3,011 ($M) 2018 % Total % YoY Lebanon 2, (7.4) 2,670 2,398 2,309 2,188 1,840 2,099 Egypt ,558 Jordan (2.27) Total 3, (5.94) 3,201 2,904 2,904 2, Retail Loans Distribution by Product Retail Loans Distribution by Currency Personal Loans 12.39% Credit Cards 5.68% $3.01Bn Car Loans 18.23% FC 51.4% $3.01Bn LBP 48.6% Housing Loans 63.70% 13/ 17
18 Asset Quality/ Provisioning 2018 Net P&L Provisions [(2.05%) YoY] ; NPLs Coverage Ratios (%) 5.44% % % 4.40% % 4.49% % 3.13% 2.69% Net P&L Provisions ($M) Gross Non-Performing/Gross Loans Coverage Ratio * Coverage Ratio (Specific Provisions) Asset Quality ; Coverage Ratio * Balance sheet Provisions ($M) (%) 2018 Coverage Lebanon Egypt Jordan UAE Qatar Iraq Europe Loan Loss Reserve ** Unallocated Provisions * Specific Provisions & Real Guarantees ** Including unrealized interest 14/ 17
19 Business Segments 2018 AUMs ($M) [1.20% YoY] Insurance Business - Premium ($M) [(4.99%) YoY] 5,976 5,567 5,205 5,610 7,156 6,719 7,122 7,841 7, Beirut Stock Exchange Brokerage Share ($M) Life Non-Life Asset Management Business ($M) [(52.06%) YoY] BLOMINVEST Share (%) BSE Total Turnover ($M) / 17
20 1. Introduction 2. Financial Overview 3. Business Overview 4. BLOM s Shares 5. Appendix
21 BLOM BANK Shares 2018 Common Shares GDR DR Program Preferred Shares 215,000, BLOM Bank had 18,500,000 Common shares in two categories: -Category A:6,168,000 -Category B:12,332,000 Of which 4,389,601(23.72%) were listed as GDR at $ 33 each (July) BLOM Bank consolidated the two categories into one (February) BLOM Bank increased its capital by $276m through the issuance of 3,000,000 new Global Depository Shares at $92 per share. The GDS were listed on the Luxembourg and Beirut Stock Exchanges (August) BLOM Bank listed 7,166,667 common(one third of all common shares) on the BSE (June ) BLOM Bank listed all its shares on the Beirut Stock Exchange (BSE). 73,896,010 (34.37% of Total Common) 1998 BLOM Bank issued 4,389,601 Global Depositary Receipts worth $144.9m.The issue was a secondary issue(no increase in Capital) at $ 33 each (February) BLOM Bank increased its capital by $276m through the issuance of 3,000,000 new Global depository Shares at $92 per share. The GDS were listed on the Luxembourg and Beirut Stock Exchanges. The total number of GDR s was increased to 7,389,601(34.37%) 2010 (October) BLOM Bank executed a share split of 1/10 for a total of 73,896,010 GDRs. DR Ticker: BLBD - CUSIP: DR ISIN: US Ratio: 1:1 - Depositary: Bank of New York - Effective Date: Jan 20, Underlying ISIN: lb Underlying SEDOL: Country: Lebanon - Industry: Banks 2002 BLOM Bank issued 750,000 unlisted preferred shares(class 2002),Coupon:10%-15% 2004 BLOM Bank issued 750,000 unlisted preferred shares(class 2004),Coupon:8.5% 2005 BLOM Bank issued 1,000,000 unlisted preferred shares(class 2005),Coupon:8.5%-9.5% 2006 (August) BLOM Bank lists all preferred shares on the BSE 2008 (June) BLOM Bank redeemed all preferred shares class 2002, totaling 750,000 shares to reduce the total preferred shares to 1,750, (June) BLOM Bank redeemed its Preferred shares Classes 2004 and (October) BLOM Bank executed a share split of 1/10 for a total of 215M shares (June) BLOM Bank increased its capital by $42.786M through the incorporation of an additional amount from the reserves account, resulting in a nominal value of LBP 1,500 per common share. 2011(July) BLOM Bank issued 20 million noncumulative perpetual redeemable preferred shares (Class 2011), Coupon: 7% 2017(June) BLOM Bank redeemed its 20 million preferred shares class / 17
22 BLOM BANK Share Performance 2018 Earnings Per Common Share ($) * Analyst Coverage Institution Recommendation Target Price ($) Date EFG-Hermes Buy Dec 2018 Arqaam Capital Buy Dec 2018 HSBC Hold Apr 2018 FFA Private Bank Overweight Feb 2018 Deutche Bank Buy Aug * Annualized Dividends Pay-Out(%) & Dividends per Common Share($) BLOM GDR Trading on Beirut & London Stock Exchanges ($)* IOB BSE Total Daily Average ,781,087 74,578, ,359,814 1,063, ,730,415 13,043,123 88,773, , ,425,915 31,296, ,722, , ,012,956 13,481,017 48,493, , ,556,591 20,714, ,271, , , ,348,525 99,132, , ,786,621 91,096, ,883, , ,843, ,870, ,714, , Dividend Payout Ratio Dividend Per Share ,428,292 31,068, ,496, ,736 *BLOM BANK Executed a share split of 1/10 for a total of 215 M shares in October / 17
23 1. Introduction 2. Financial Overview 3. Business Overview 4. BLOM s Shares 5. Appendix
24 BLOM Bank s History First established 1974 Established AROPE INSURANCE with a leading French re-insurance company, LASCOR BanorabeBank was founded in Paris by BLOM BANK and other Swiss & Arab shareholders Established an investment banking subsidiary (Banque d Affaires du Liban et d Outre-Mer) 1996 Acquired Banque Banorabe, which in turn owns 100% BLOM Bank Switzerland (in 1992) Established the private bank, BANK OF SYRIA AND OVERSEAS in Syria. BLOM BANK was the largest shareholder with a 39% share whereas IFC S share is 10%. The remaining capital is subscribed by Syrian individuals 2004 Opened branches in Jordan 2005 BLOM BANK s share of AROPE INSURANCE increased to 88.49% 2005 Acquired 96.78% of MISR ROMANIAN BANK. The Bank was renamed BLOM BANK EGYPT and BLOM BANK currently owns approximately 99% of it 2006 Issued 3 millions Global Depositary receipts GDR for a total amount of US$ 276 million and was listed on the Luxembourg Stock Exchange 2006 Established an Islamic Bank, BLOM Development Bank Established BLOM Bank Qatar 2010 Established BLOMINVEST SAUDI ARABIA, in Riyadh Launched its new ecash service 2013 Established Beirut Traders Shopping card 2014 Signed the Investors for Governance & Integrity declaration 2016 Signed an agreement to acquire the assets and liabilities of HSBC Bank Middle East Limited Lebanon Wrote-off its Syrian investments and deconsolidated its operations in Syria Acquired assets and liabilities of HSBC Bank Middle East Limited Lebanon I
25 Peer Group Analysis 2018 Net Income ($M) ROA ; ROE (Common) % 14.00% 8.76% % 48.1% 51.2% 1.47% 1.10% 0.70% Blom Audi Byblos Blom Audi Byblos Net Profits Cost to Income Ratio ROAA ROAE Financial Ratios Volatility of Return 25.62% 23.55% 16.42% Blom Audi Byblos Price to Net Book Price to Earnings yield Blom Audi Byblos Mean Coefficient of Variation [Average Quarterly Return ] [Quarterly Standard Deviation/Mean ] II
26 Disclaimer The information contained in this presentation has been prepared by BLOM Bank.It has not been fully verified and is subject to material updating, revision and further amendment. No presentation,express or implied, is made as to the fairness, accuracy, completeness or correctness of information contained in this presentation, including the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, synergies, returns, benefits or statements in relation to future matters contained in the presentation( Forward-looking statements ).Such forward-looking statements are by their nature subject to significant uncertainties and contingencies and are based on a number or estimates or assumptions that are subject to change(ad in many cases are outside the control of BLOM Bank and its directors) which may cause the actual results or performance of BLOM Bank to be materially different from any future results or performance expressed or implied by such forward looking statements. To the maximum extent permitted by law, BLOM disclaims any responsibility for the accuracy or completeness of any information contained in this presentation including any forward-looking statements and disclaims any responsibility to update or revise any information or forward-looking statement to reflect any change in BLOM Bank s financial condition, status or affairs or any change in the events, conditions or circumstances on which a statement is based. This presentation provides information in summary form only and is not intended to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. To the maximum extent permitted by law, neither BLOM Bank nor its related bodies corporate, Directors, employees or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence, for any direct, indirect or consequential loss arising from the use of this presentation or its contents or otherwise arising in connection with it. This presentation should be read in conjunction with other publicity available material. Further information including historical results and a description of the activities of BLOM Bank is available on our website,
Investor Presentation QIII 2018
Investor Presentation QIII 2018 1. Introduction 2. Financial Overview 3. Business Overview 4. BLOM s Shares 5. Appendix BLOM Bank at a glance QIII 2018 Overview of BLOM Bank BLOM Bank Shareholders BLOM
More informationInvestor Presentation QI 2017
Investor Presentation QI 2017 1. Overview 2. Financial Information 3. Business Information 4. Share Information Overview QI 2017 Major Highlights Consistent Annual Income Growth ($M) One of the oldest
More informationInvestor Presentation QI 2016
Investor Presentation QI 2016 1. Overview 2. Financial Information 3. Business Information 4. Share Information Overview QI 2016 Major Highlights Consistent Annual Income Growth ($M) One of the oldest
More informationRegionalization of the Lebanese Banking Industry in the Arab World
Regionalization of the Lebanese Banking Industry in the Arab World Mr. Saad Azhari Chairman and General Manager,BLOM Bank Lebanese Banking Day in London November 10 th,2010 Peace of Mind Agenda Table of
More informationFirst Gulf Bank Profile
First Gulf Bank Profile Based on June 2012 Financials 1/28 Agenda General Overview Financial Review Business Review Shareholder Information 2/28 First Gulf Bank Overview Incorporated in 1979 and headquartered
More informationFirst Gulf Bank Profile
First Gulf Bank Profile Based on September 2012 Financials 1/28 Agenda General Overview Financial Review Business Review Shareholder Information 2/28 First Gulf Bank Overview Incorporated in 1979 and headquartered
More informationEquity Research - Lebanese Banks - Q3/15 Preview
EQUITY RESEARCH LEBANESE BANKS - October Q3/15 PREVIEW 13, 2015 1 Equity Research - Lebanese Banks - Q3/15 Preview Domestic banking sector deposits grew +5% YoY in July 2015 supported by non-residents
More informationInvestor Relations Presentation December 2012
Investor Relations Presentation December 2012 Contents 1. QNB at a Glance 2. QNB Comparative Positioning Qatar and MENA 3. Financial Highlights December 2012 4. Economic Overview 2 QNB at a Glance QNB
More informationBeirut, October 30, 2018
Bank Audi Consolidated Activity Highlights as at End-September 2018 Sustained profits growth with strengthening balance sheet in an adverse environment Beirut, October 30, 2018 Sustained profits growth
More informationInvestors Presentation October
Investors Presentation October 205 www.bankaudigroup.com CONTENTS Group Overview 4 Major Entities Consolidated Financial Standing 5 Main Strategic Orientations 22 Share Information 23 Appendix 25 www.bankaudigroup.com
More informationQNB Investor Relations Presentation June 2011
QNB Investor Relations Presentation June 211 Forward Looking Statement This presentation and subsequent discussion may contain certain forward-looking statements with respect to the financial condition,
More informationJuly 31, 2015 ECONOMY. Lebanon ranks 19 th worldwide and 2 nd in the Arab world in gold holdings
ECONOMY Lebanon ranks 19 th worldwide and 2 nd in the Arab world in gold holdings Lebanon s gold reserves reached 287 tons, accounting for 21% of the country s total foreign reserves. The July 2015 edition
More informationInvestor Relations Presentation December 2013
Investor Relations Presentation December 2013 Contents 1. QNB at a Glance 2. QNB Comparative Positioning Qatar and MENA 3. Financial Highlights as at 31 December 2013 4. Economic Overview Notes: These
More informationObstacles Encountered by an Emerging Economy in Implementing Basel II : The Lebanese Experience
W.B./I.M.F/Fed. Seminar for Senior Bank Supervisors from Emerging Economies October 16 27, 2006 Obstacles Encountered by an Emerging Economy in Implementing Basel II : The Lebanese Experience Dr Amine
More informationLEBANON WEEKLY REPORT
Lebanon s major entrepreneurship weakness is in product innovation, being the ability to provide unique products or services. The country s greatest strength in entrepreneurship is found in its perception
More informationASSOCIATION OF BANKS IN LEBANON. 5- Balance of Trade in Goods = (4) - (3) (16,738) (1,591) (1,224) n.a.
Key Indicators ASSOCIATION OF BANKS IN LEBANON Issue: October / November 08 LBP= Lebanese Pound; USD= US Dollar; FC= Foreign Currency; ( ) indicates a negative number; CD= Certificate of Deposit; BDL=
More informationCurrent price*: USD 1.82 Target price: USD 2.47 Recommendation: Key performance indicators:
Byblos Bank Equity Research July 23 rd 2009 Sector: Banking Country: Lebanon Current price*: USD 1.82 Target price: USD 2.7 Recommendation: BUY Share data Listing: Beirut Stock Exchange Listing GDRs: London
More informationThe Economic Letter March 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter March 2018 Summary: In the first quarter 2018, most real sector indicators retreated with regard to the corresponding
More informationASSOCIATION OF BANKS IN LEBANON. 5- Balance of Trade in Goods = (4) - (3) (16,738) (2,100) (1,591) n.a.
Key Indicators ASSOCIATION OF BANKS IN LEBANON Issue: August / September 08 LBP= Lebanese Pound; USD= US Dollar; FC= Foreign Currency; ( ) indicates a negative number; CD= Certificate of Deposit; BDL=
More informationASSOCIATION OF BANKS IN LEBANON. 5- Balance of Trade in Goods = (4) - (3) (16,738) (1,401) (2,100) (1,591)
Key Indicators ASSOCIATION OF BANKS IN LEBANON Issue: August / September 08 LBP= Lebanese Pound; USD= US Dollar; FC= Foreign Currency; ( ) indicates a negative number; CD= Certificate of Deposit; BDL=
More informationTHE LEBANESE ECONOMY IN 2016 BYBLOS BANK ECONOMIC RESEARCH AND ANALYSIS DEPARTMENT
THE LEBANESE ECONOMY IN 2016 BYBLOS BANK ECONOMIC RESEARCH AND ANALYSIS DEPARTMENT ECONOMIC ACTIVITY Economic activity in Lebanon remained below potential in 2016, in line with the previous five years.
More informationThe Economic Letter July 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter July 2018 Summary: In July 2018, real sector indicators progressed in relation to the preceding month. Both imports
More informationSwitzerland Economic Update QNB Group. September 2014
Switzerland Economic Update QNB Group September 14 Switzerland Overview Switzerland s efficient capital markets, highly skilled human capital and low corporate tax rates make it the world's most competitive
More informationInvestor Presentation. June 2018
Investor Presentation June 2018 Contents Bank Muscat Introduction Operating environment Bank Muscat business - Overview Financial Performance Annexure Note: The financial information is updated as of 30
More informationUnaudited Consolidated Financial Results March 31, 2018:
Unaudited Consolidated Financial Results March 31, 2018: BLOM BANK S.A.L. publishes its Unaudited Consolidated Financial Results for the period ended March 31, 2018. Report can be accessed by using the
More informationLEBANON WEEKLY REPORT
ECONOMY Beirut recorded the 3 rd lowest occupancy rate among Arab markets. The average room rate in Beirut hotels was USD 169 in 2013, down from USD 201 in 2012. OCCUPANCY RATE AT BEIRUT HOTELS REACHES
More informationThe Economic Letter May 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter May 2018 Summary: In May 2018, real sector indicators were mixed with reference to the preceding month. Imports of goods
More informationThe Economic Letter November 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Summary: In November 2018, the majority of real sector indicators regressed in relation to the previous month. Imports and exports of
More informationThe Economic Letter September 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter September 2018 Summary: In the first three quarters of 2018, most real sector indicators retreated in relation to the
More informationLebanon Weekly Report
ECONOMY World Bank forecasts Lebanon real GDP growth at 2% in 2015 and 2.5% in 2016 The World Bank said that Lebanon s economic activity continues to tick along at a modest pace despite the political dysfunctionality.
More informationLebanese Banks. Bank Audi (AUDI LB) MARKETWEIGHT USD Blom Bank (BLOM LB) OVERWEIGHT USD Q2/14 Preview
Lebanese Banks Q2/14 Preview July 17 th, 2014 Bank Audi (AUDI LB) MARKETWEIGHT USD 7.00 Blom Bank (BLOM LB) OVERWEIGHT USD 10.00 Byblos Bank (BYB LB) MARKETWEIGHT USD 1.60 As Lebanese banks still cope
More informationABU DHABI COMMERCIAL BANK PJSC REPORTS FIRST QUARTER 2015 NET PROFIT OF AED BN, AN INCREASE OF 13% YEAR ON YEAR, AND 22% QUARTER ON QUARTER
Abu Dhabi Commercial Bank Sheikh Zayed Street P. O. Box: 939, Abu Dhabi http://www.adcb.com Press Release: Immediate Release ABU DHABI COMMERCIAL BANK PJSC REPORTS FIRST QUARTER 2015 NET PROFIT OF AED
More informationManagement Discussion & Analysis Chairman s Letter 06. Consolidated Financial Statements. Key Figures 08. Organizational Chart 11
33 46 47 49 52 58 58 66 67 73 75 81 84 87 Chairman s Letter 06 Key Figures 08 Organizational Chart 11 Group Chart 12 Corporate Governance 16 Code of Corporate Governance BLOM BANK S.A.L. Major Common Shareholders
More informationASSOCIATION OF BANKS IN LEBANON. Indicators of Economic Activity (million USD unless otherwise mentioned)
Key Indicators ASSOCIATION OF BANKS IN LEBANON Issue: September / October 07 LBP= Lebanese Pound; USD= US Dollar; FC= Foreign Currency; ( ) indicates a negative number; CD= Certificate of Deposit; BDL=
More informationLEBANON WEEKLY REPORT
Lebanon is the 9 th most entrepreneurial country in the MENA region and 63 rd among 137 countries On a global perspective, North America ranks at the top with a strong entrepreneurial ecosystem achieving
More informationABU DHABI COMMERCIAL BANK PJSC REPORTS NINE MONTH 2015 NET PROFIT OF AED BN, UP 18% YEAR ON YEAR
Abu Dhabi Commercial Bank Sheikh Zayed Street P. O. Box: 939, Abu Dhabi http://www.adcb.com Press Release: Immediate Release ABU DHABI COMMERCIAL BANK PJSC REPORTS NINE MONTH 2015 NET PROFIT OF AED 3.736
More informationThe Economic Letter December 2016
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter December 2016 Summary: In 2016, real sector indicators were mixed and their varied performance pointed to another year
More informationLEBANON WEEKLY REPORT
Beirut recorded the 2 nd lowest occupancy rate among Arab markets. The average room rate in Beirut hotels dropped to USD 167 in January 2014, compared to USD 173 in January 2013. Occupancy rate at Beirut
More informationInvestor Relations Presentation April 2012
Investor Relations Presentation April 2012 Contents 1. QNB at a Glance 2. Qatar Banking Sector 3. Financial Highlights March 2012 4. Economic Overview 2 QNB at a Glance QNB at a Glance: Overview Overview
More informationPress Release. Bank Audi Consolidated Activity Highlights as at End-March Beirut, April 27, 2017
Press Release Bank Audi Consolidated Activity Highlights as at End-March 2017 Beirut, April 27, 2017 US$ 43.9 billion of assets US$ 36.0 billion of customers deposits US$ 17.0 billion of loans to customers
More informationEarnings Presentation Q2 12
AbuDhabi Commercial Bank PJSC Earnings Presentation Q2 12 1 Disclaimer This document has been prepared by Abu Dhabi Commercial Bank PJSC ( ADCB ) for information purposes only. The information, statements
More informationAbu Dhabi Commercial Bank PJSC Q1 15 Investor presentation
Abu Dhabi Commercial Bank PJSC Q1 15 Investor presentation THIS PRESENTATION IS NOT AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES. IT IS SOLELY FOR USE AS AN INVESTOR PRESENTATION AND
More informationThe Economic Letter December 2010
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter December 2010 Summary: Despite the deceleration in the activities of a number of economic sectors in the fourth quarter,
More informationNigeria Economic Update QNB Group. September 2014
Nigeria Economic Update QNB Group September 21 Nigeria Overview A rebasing of GDP in 213 has made Nigeria the biggest economy in Africa with the largest population; the economy is growing rapidly but remains
More informationLEBANON THIS WEEK. Charts of the Week. Quote to Note. Number of the Week. Economic Research & Analysis Department. In This Issue
Issue 564 Economic Research & Analysis Department In This Issue Charts of the Week Economic Indicators...1 Capital Markets...1 Lebanon in the News...2 Personal Debt per Adult in Arab Countries at end-june
More informationLebanon Weekly Report
Lebanon ranks 98 th most prosperous country in the world The Legatum Prosperity Index defines prosperity as a combination of wealth and wellbeing, benchmarking 142 countries in eight categories. In the
More informationLEBANON THIS WEEK
Issue 502 July 31 - August 5, 2017 Economic Research & Analysis Department LEBANON THIS WEEK In This Issue Economic Indicators...1 Capital Markets...1 Lebanon in the News...2 Charts of the Week Performance
More informationEFG Hermes Holding Company (Egyptian Joint Stock Company) Consolidated interim financial statements for the period ended 30 June 2017 & Review Report
EFG Hermes Holding Company Consolidated interim financial statements for the period ended 30 June 2017 & Review Report Contents Page Review report Consolidated interim statement of financial position 1
More informationASSOCIATION OF BANKS IN LEBANON. Indicators of Economic Activity (million USD unless otherwise mentioned)
Key Indicators ASSOCIATION OF BANKS IN LEBANON Issue: December 2016 / January 2017 LBP= Lebanese Pound; USD= US Dollar; FC= Foreign Currency; ( ) indicates a negative number; CD= Certificate of Deposit;
More informationThe Economic Letter January 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter January 2018 Summary: In the first month of 2018, most real sector indicators retreated in relation to the preceding
More informationInvestor Presentation. Sep 2018
Investor Presentation Sep 2018 Contents Bank Muscat Introduction Operating environment Bank Muscat business - Overview Financial Performance Annexure Note: The financial information is updated as of 30
More informationFrance Economic Update QNB Group. September 2014
France Economic Update QNB Group September 2014 France Overview France is the ninth largest economy in the world on a purchasing power parity basis and service-oriented; high indebtedness and lack of reforms
More informationASSOCIATION OF BANKS IN LEBANON Sep-2017 Oct-2017 Nov Building permits (000 m 2 ) 12, ,
Key Indicators ASSOCIATION OF BANKS IN LEBANON Issue: November / December 07 LBP= Lebanese Pound; USD= US Dollar; FC= Foreign Currency; ( ) indicates a negative number; CD= Certificate of Deposit; BDL=
More information4 th Quarter of Head of Research: Nadim Kabbara, CFA
4 th Quarter of 2014 Contacts Head of Research: Nadim Kabbara, CFA n.kabbara@ffaprivatebank.com +961 1 985195 Analyst: Rima Gedeon r.gedeon@ffaprivatebank.com +961 1 985195 Sales and Trading, FFA Private
More informationBank Audi. A Leading Regional 1 Banking Group. Consolidated Activity Highlights as at End-December 2014
A Leading Regional 1 Banking Group US$ 42 billion in total assets as at 31/12/2014 Of which 47% from entities outside Lebanon and 33% in investment grade countries Consolidated Activity Highlights as at
More informationInvestor Presentation. March 2018
Investor Presentation March 2018 Contents Bank Muscat Introduction Operating environment Bank Muscat business - Overview Financial Performance Annexure Note: The financial information is updated as of
More informationInvestor Presentation. September 2014
Investor Presentation September 2014 Contents I. UNB Introduction 1 II. UAE Economy and Banking Industry 3 III. UNB Business Overview 5 IV. Financial Highlights and Performance 10 V. Awards and Certifications
More information2nd Quarter of Head of Research: Nadim Kabbara, CFA
2nd Quarter of 2012 Contacts Head of Research: Nadim Kabbara, CFA n.kabbara@ffaprivatebank.com +961 1 985195 Analyst: Laura El Makary l.elmakary@ffaprivatebank.com +961 1 985195 Sales and Trading, FFA
More informationArab Bank Group INVESTOR RELATIONS PRESENTATION. December 31, 2016
Arab Bank Group INVESTOR RELATIONS PRESENTATION December 31, 2016 1 TABLE OF CONTENTS General Information Financial Data & KPIs Credit Rating Stock Information Corporate Governance Disclaimer Appendix
More informationRAKBANK Investor Relations Presentation Q The National Bank of Ras Al-Khaimah (P.S.C)
Investor Relations Presentation Q1 2014 The National Bank of Ras Al-Khaimah (P.S.C) Snapshot of Ras Al Khaimah Situated less than one hour from Dubai, Ras Al Khaimah is the fourth largest of the seven
More informationArab Bank Group. Investor Relations Presentation June 30, 2016
Arab Bank Group Investor Relations Presentation June 30, 2016 1 General Information Financial Data & KPIs Q2 2016 Key Performance Extracts Credit Rating Table of Contents Stock Information Corporate Governance
More informationInvestor Relations Presentation December 2018
Investor Relations Presentation December 2018 Contents 1. QNB at a Glance 2. QNB Comparative Positioning Qatar and MEA 3. Financial Highlights as at 31 December 2018 4. Economic Overview Notes: All figures
More informationBLOMINVEST BANK S.A.L.
BLOMINVEST BANK S.A.L. Economic Research Department The Lebanon Brief can be accessed via Internet at the following web address: http://www.blom.com.lb EQUITY MARKET Financial Markets Stock Market 25/1/02
More informationArab Bank Group INVESTOR RELATIONS PRESENTATION. December 31, 2017
Arab Bank Group INVESTOR RELATIONS PRESENTATION December 31, 2017 1 TABLE OF CONTENTS General Information Financial Data & KPIs Credit Rating Stock Information Corporate Governance Disclaimer Appendix
More informationLebanomics 1st. Mfcbopo t Ebticpbse pg!fdpopnjd Joejdbupst. Quarter of 2011
Lebanomics 1st Quarter of 2011 Mfcbopo t Ebticpbse pg!fdpopnjd Joejdbupst Contacts Head of Research: Nadim Kabbara, CFA n.kabbara@ffaprivatebank.com +961 1 985195 Sales and Trading, FFA Private Bank (Beirut)
More informationInvestor Presentation MARCH 2014
Investor Presentation MARCH 2014 Contents I. UNB Introduction 1 II. UAE Banking Industry 3 III. UNB Business Overview 5 IV. UNB Strategy 10 V. Risk Management 11 VI. Financial Highlights and Performance
More informationUnaudited Financial Results March 31, 2018: Byblos Bank SAL publishes its Consolidated Unaudited Financial Results for the period ended March 31, 2018. Report can be accessed by using the following URL:
More informationChairman s Letter 06. Key Figures 08. Organizational Chart 11. Management Discussion & Analysis Consolidated Financial Statements
33 40 41 42 45 51 51 58 59 65 67 74 77 81 Chairman s Letter 06 Key Figures 08 Organizational Chart 11 Group Chart 12 Corporate Governance 16 Code of Corporate Governance BLOM BANK S.A.L. Major Common Shareholders
More informationAt BLOM BANK, our mission has always been to spread Peace of Mind in the region and all around the world through our international network.
ANNUAL REPORT 07 At BLOM BANK, our mission has always been to spread Peace of Mind in the region and all around the world through our international network. The universal banking services provided by
More informationLEBANON WEEKLY REPORT
Total imports decreased by a yearly 5% to reach USD 8,713 million in the first five months of 2014, while total exports dropped by 30% to reach USD 1,387 million. Imports from China accounted for the largest
More informationByblos Bank S.A.L. Highlights of the Board of Directors report on. the Audited Consolidated Financial Statements. as at 31/12/2017
Byblos Bank S.A.L Highlights of the Board of Directors report on the Audited Consolidated Financial Statements as at 31/12/2017 to the General Assembly of Byblos Bank shareholders held on 20/04/2018 1
More informationEarnings Presentation
Earnings Presentation BRSA Bank-Only 1Q 2017 May 10, 2017 VakıfBank IR App. Available at Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17
More informationTHE BDL MARKET VALUE WEIGHTED INDEX
Volume Value Market Cap. MVWI Market Cap. BVWI COMMUNICATION AND RESEARCH DEPARTMENT THE BDL MARKET VALUE WEIGHTED INDEX MONTHLY BRIEF Closing Prices The closing price for the month of March 2018 of the
More informationThe Commercial Bank (P.S.Q.C.) Announces. Net profit of QAR Million for the Full Year Ended 31 December 2016
The Commercial Bank (P.S.Q.C.) Announces Net profit of QAR 501.4 Million for the Full Year Ended 31 December 2016 21 Feb 2017, Doha, Qatar: The Commercial Bank (P.S.Q.C.) ( the Bank ), its subsidiaries
More informationFIRST GULF BANK Q3/9M 13 EARNINGS PRESENTATION
FIRST GULF BANK Q3/9M 13 EARNINGS PRESENTATION DISCLAIMER This presentation provides information in summary form only and is not intended to be complete. It is not intended to be relied upon as advice
More informationARAB BANK BLOMINVEST BANK S.A.L.
BLOMINVEST BANK S.A.L. Update for Q3 2014 Share Price (JOD): 7.15 Sector: Banking Target Price (JOD): 7.72 Country: Jordan Upside: 8.0% Date: November 10, 2014 Recommendation: HOLD Risk: Medium Issuing
More informationInvestor Relations Presentation Q3 2017
Investor Relations Presentation Q3 2017 Table of Content 1 KSA Fact Sheet 3 2 Saudi Arabia 2030 Vision 4 3 Al Rajhi at a Glance 5 4 Recent International Recognition 6 5 Al Rajhi 2020 Strategy 7 6 Al Rajhi
More informationUnited Overseas Bank Limited
United Overseas Bank Limited July 2007 This material that follows is a presentation of general background information about United Overseas Bank Limited s ( UOB or the Bank ) activities current at the
More informationPalestine Securities Exchange PSE
Palestine Securities Exchange PSE Contents Palestine Economy Foreign investment in Palestine Market Highlights Company Highlights Why Invest in Palestine Contacts 3 4 5-8 9-14 15-21 22 2 Palestine Economy
More informationInvestor Presentation JUNE 2014
Investor Presentation JUNE 2014 Contents I. UNB Introduction 1 II. UAE Banking Industry 3 III. UNB Business Overview 5 IV. UNB Strategy 10 V. Risk Management 11 VI. Financial Highlights and Performance
More informationABU DHABI COMMERCIAL BANK PJSC REPORTS FIRST QUARTER 2013 NET PROFIT OF AED 903 MN, AN INCREASE OF 5% YEAR ON YEAR* AND 44% QUARTER ON QUARTER*
Abu Dhabi Commercial Bank PJSC Salam Street P. O. Box: 939, Abu Dhabi http://www.adcb.com Press Release: Immediate Release ABU DHABI COMMERCIAL BANK PJSC REPORTS FIRST QUARTER 2013 NET PROFIT OF AED 903
More informationAudi Private Bank sal
Audi Private Bank sal CONTENTS 01 BOARD OF DIRECTORS AND MANAGEMENT 06 02 CHAIRMAN S LETTER 07 03 STATEMENT OF FINANCIAL POSITION 08 04 OFF-BALANCE SHEET 10 05 INCOME STATEMENT 11 06 FINANCIAL HIGHLIGHTS
More informationABU DHABI COMMERCIAL BANK PJSC REPORTS FIRST QUARTER 2018 NET PROFIT OF AED BILLION, AN INCREASE OF 13% QUARTER ON QUARTER, AND 9% YEAR ON YEAR
Abu Dhabi Commercial Bank Sheikh Zayed Bin Sultan Street P. O. Box: 939, Abu Dhabi http://www.adcb.com ABU DHABI COMMERCIAL BANK PJSC REPORTS FIRST QUARTER 2018 NET PROFIT OF AED 1.207 BILLION, AN INCREASE
More informationIMPORTANT NOTICE NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OR OTHERWISE EXCEPT TO PERSONS TO WHOM IT CAN LAWFULLY BE DISTRIBUTED.
IMPORTANT NOTICE NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OR OTHERWISE EXCEPT TO PERSONS TO WHOM IT CAN LAWFULLY BE DISTRIBUTED. IMPORTANT: You must read the following before continuing. The following
More informationPalestine Securities Exchange PSE
Palestine Securities Exchange PSE Contents Palestine Economy Foreign investment in Palestine Market Highlights Company Highlights Why Invest in Palestine Contacts 3 4 5-8 9-14 15-21 22 2 Millions (US$)
More informationEl Sewedy Electric Company
بلوم مصر لتداول األوراق المالية BLOMINVEST BLOM EGYPT SECURITIES BANK UPDATE FOR FY 2013 Sector: Electric Equipment Country: Egypt Date: May 07, 2014 Share Price (EGP): Target Price (EGP): Upside: Recommendation:
More informationLEBANON THIS WEEK. Charts of the Week. Quote to Note. Number of the Week. Economic Research & Analysis Department. In This Issue
Issue 519 Economic Research & Analysis Department In This Issue Economic Indicators...1 Capital Markets...1 Lebanon in the News...2 IMF calls for fiscal consolidation Goldman Sachs maintains its assessment
More informationInvestor Relations Presentation. February 2012
Investor Relations Presentation February 2012 I. QNB At a Glance P. 3 II. QNB Operating Environment P. 7 III. QNB Financial Results IV. Qatar s Economy P. 14 P. 25 QNB at a Glance: Overview Overview Credit
More informationBLOM LEBANON INSIDE#1 (C) 9/12/07 9:40 AM Page 1 ANNUAL REPORT 06
BLOM LEBANON INSIDE#1 (C) 9/12/07 9:40 AM Page 1 > ANNUAL REPORT 06 BLOM LEBANON INSIDE#1 (C) 9/12/07 9:40 AM Page 2 INTRODUCTION > The BLOM BANK Beirut Marathon has, over the past few years, quickly become
More informationIndonesia Economic Update QNB Group. October 2014
Indonesia Economic Update QNB Group October 214 Indonesia Overview The economy has enormous long-term potential based on a rich endowment of natural resources and a large population; the new Jokowi administration
More informationThe LEBANON WEEKLY MONITOR
CONTACTS The LEBANON WEEKLY MONITOR Treasury & Capital Markets Bechara Serhal (961-1) 977421 bechara.serhal@bankaudi.com.lb Nadine Akkawi (961-1) 977401 nadine.akkawi@bankaudi.com.lb Private Banking Toufic
More informationQatar National Bank (QNB)
Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Global Research Investment Update Equity Qatar Banking Sector 15 February, 2016 (QNB) Market Data Bloomberg Code:
More informationAudi Private Bank sal
Audi Private Bank sal CONTENTS 01 BOARD OF DIRECTORS AND MANAGEMENT 06 02 CHAIRMAN S LETTER 07 03 STATEMENT OF FINANCIAL POSITION 08 04 OFF-BALANCE SHEET 10 05 INCOME STATEMENT 11 06 FINANCIAL HIGHLIGHTS
More informationEarnings presentation Financial year 2011 results
AbuDhabiCommercial BankPJSC Earnings presentation Financial year 2011 results 1 Disclaimer This document has been prepared by Abu Dhabi Commercial Bank PJSC ( ADCB ) for information purposes only. The
More informationQ1 11 Investor presentation May 2011
AbuDhabi Commercial Bank PJSC Q1 11 Investor presentation May 2011 1 Disclaimer This document has been prepared by Abu Dhabi Commercial Bank PJSC ( ADCB ) for information purposes only. The information,
More informationINVESTOR PRESENTATION. Financial Year 2012
INVESTOR PRESENTATION Financial Year 2012 1 Disclaimer The information contained in this document has been provided on the basis of current knowledge, assumptions and expectations. In the event that any
More informationIMPACT OF FINANCIAL REFORMS: EXPERIENCES IN THE EURO- MEDITERRANEAN AREA. MOHAMAD JABRI Executive Director Training and Development Department
IMPACT OF FINANCIAL REFORMS: EXPERIENCES IN THE EURO- MEDITERRANEAN AREA MOHAMAD JABRI Executive Director Training and Development Department OUTLINE A. Economic cooperation between Lebanon and the EU
More informationPress Release: Immediate Release
Abu Dhabi Commercial Bank Salam Street P. O. Box: 939, Abu Dhabi http://www.adcb.com Press Release: Immediate Release ABU DHABI COMMERCIAL BANK REPORTS FIRST QUARTER 2012 NET PROFIT OF AED 802 MN COMPARED
More informationIN THIS ISSUE ECONOMY
IN THIS ISSUE ECONOMY Coincident Indicator Improves by 5.8% Y-O-Y in October 2013 Fiscal Deficit Widened by 32% to USD 3,519 Million in the First Ten Months of 2013 Trade Deficit Goes up on a Yearly Basis
More informationAbu Dhabi Commercial Bank PJSC ( ADCB or the Bank ) today reported its financial results for the year ended 31 December 2017.
Abu Dhabi Commercial Bank Sheikh Zayed Bin Sultan Street P. O. Box: 939, Abu Dhabi http://www.adcb.com ABU DHABI COMMERCIAL BANK PJSC REPORTS FULL YEAR NET PROFIT OF 4.278 BILLION, UP 3% YEAR ON YEAR FOURTH
More information