Investor Presentation

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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,

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