January 30, 2019 / 3:38 PM / 19 days ago

Lebanon's Blom Bank says 2018 net profit climbed 5.2 pct

BEIRUT, Jan 30 (Reuters) - Lebanon’s Blom Bank said on Wednesday its net profit climbed 5.2 percent in 2018 to $510.4 million, adding that it had maintained profitability despite a slowing economy, higher taxes and political paralysis.

In a short statement, Blom Bank said assets had risen 12.9 percent to $36.7 billion and deposits had gone up by 2.2 percent to $27.2 billion.

Blom Bank said it hoped “to see better operating conditions in 2019, ushered first and foremost by a speedy formation of a reforming government” in Lebanon. (Writing by Tom Perry; Editing by Elaine Hardcastle)

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