BLOM BANK SwitzerlandEnzo Caputo2021-03-01T16:36:41+01:00
BLOM BANK Switzerland
Origin of BLOM BANK Switzerland SA
BLOM BANK Switzerland SA was established in 1979 and is located in Geneva. The parent company is headquartered in Beirut, Lebanon. In 1951 Lebanon was a banking and financial hub in the Middle East. The booming in the financial sector was the start of BLOM BANK. The bank was founded in 1951. The bank’s activities are equally directed towards Lebanon and abroad. As the war broke out in 1975, BLOM BANK expanded further outside of Lebanon, especially in the Gulf and Europe. At present, BLOM BANK is present in 12 countries. The countries are Lebanon, Egypt, Jordan, United Arab Emirates, Saudi Arabia, Qatar, France, Switzerland, the United Kingdom, Romania, Cyprus, and Iraq.
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Philosophy and Strategy
BLOM BANK aims to provide their customers with relevant and needed tools to secure their financing needs and secures their future financial stability. BLOM BANK has a conservative and flexible business model.
The bank’s digital agenda is an important part of the bank’s strategy, to reduce and ease the cost of delivering and interacting services to its customers.
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Services and Solutions
In line with its aim of maximizing customer satisfaction and increasing shareholders’ value, BLOM BANK has adopted the policy of diversification of its products and services. BLOM BANK provides the following universal banking services that suit all customers’ needs:
BLOMINVEST BANK Services
Commercial and Corporate Banking
Insurance Products and Services
Asset Management Services
BLOM BANK offers its services via numerous financing and banking units and affiliates which include banks, insurance companies, and financial institutions. BLOM BANK is the most widely spread Lebanese bank.
Private Banking Services
A dedicated team of private bankers optimizes the wealth management and financial advisory experience of clients by offering them tailor-made investment instruments that are in line with their risk profile and across an open architecture platform of diverse asset classes.
Investment Banking Services
A team of investment banking experts offers equity and debt capital markets advisory services to the private and the public sector regarding capital raising and mergers & acquisitions. BLOM BANK’s real estate unit offers extensive experience in sponsoring, structuring and carefully managing selected real estate projects spanning across retail, commercial and residential markets and across BLOM BANK Group’s presence abroad.
Advisory and Structured Products
A team of structured products advisors innovates bespoke investment solutions that offer superior yielding propositions to clients.
A team of skilled traders extend competitively and around the clock execution on global capital markets from fixed income instruments to equities to derivatives to currencies and precious metals with active market making capabilities.
A team of economists and analysts provide value-added research and equity coverage across the MENA region by systematically publishing economic and financial information including indices as well as conducting equity analysis on leading regional institutions.
BLOM BANK’s presence in the Asset Management industry dates back to 2007. Through BLOM Asset
Management Company, the Bank aspires to be a prominent regional asset manager that caters to retail, high net worth, and institutional clients. BLOM BANK’s strong commitment to the Asset Management industry and the consistent results achieved throughout the years are the two pillars of the bank’s success. BLOM Asset Management Company administers and manages several funds in Lebanon, Jordan, and Saudi Arabia. This steady performance has been recognized through several awards granted by prominent agencies.
BLOM BANK is exposed to different risks stemming from its normal business activities. Procedures and policies covering all types of risks have been implemented and updated regularly to ensure that they take full account of the bank’s risk appetite and that they also cover internal and regulatory guidelines. Appropriate limits are set within the different policies and are monitored by the corresponding business lines. The Board of Directors ensures that sound, comprehensive and effective risk management practices and processes are in place throughout the Group.
Furthermore, Group risk management has implemented a risk management structure within the Group whereby the bank’s subsidiaries have their risk managers that report to the Group chief risk officer.
The major risks the bank is exposed to are the credit, the market, the liquidity, and the operational risks. Accordingly the Credit Risk Management, Market Risk Management, Operational Risk Management, and Middle Office Departments monitor and manage the mentioned risks and report to the Group Chief Risk Officer. The Group chief risk officer reports directly to the Chairman-General Manager and also interacts with the Executive Management through committees such as the Asset Liability Management Committee and the Credit Committee, as well as reports to the Board of
Directors through the Board Risk Management Committee.
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In 2017 BLOM BANK acquired the assets and liabilities of HSBC Bank Middle East, Lebanon.
BLOM BANK brings innovation to every service and product offered, and the customers can conveniently use eBLOM for their banking needs.
BLOM BANK’s GDR stock rose 12.4 % in 2017 and showed a market capitalization of USD 2.73 bn. With a dividend of USD 1.13 per share, the dividend yield stands at 10.21%.
The bank’s lending portfolio is split into 42.5 % retail, 27 % corporate, 20 % SMEs, 6.9 % in project finance and 3.9 % in real estate.
BLOM BANK received several awards during 2017 and 2018, namely from The Banker – Bank of the year, from Euromoney – Best Bank in Lebanon, from the Asian Banker – Best retail bank in Lebanon.
BLOM BANK offers a secure online payment gateway (e-commerce solution) with the latest and most advanced technology that ensures ultimate security and peace of mind. With this top-notch electronic payment solution, merchants get an end-to-end e-commerce website that processes online payments.
BLOM BANK offers its customers phone banking services such as “Allô BLOM” (a 24-hour customer service) as well as internet banking services such as e-BLOM. This service allows users to complete many of their routine banking transactions in the comfort of their home/office. The client may even apply for a card, issue a prepaid card, or even perform outgoing transfers.
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Few banks do not disclose their Annual Reports to the public. Therefore, we collected reliable information on a best-efforts basis. We renounced to collect information from unreliable sources. Until today, Swiss law does not impose the duty of publication to the banks as it is the case in the EU. Therefore, for a few banks, the information from the annual reports was not summarized and published.
There are some smaller banks without a rating. It makes no sense for them to apply for a rating because they are not involved in the lending business. If the bank has no rating, it’s not automatically a negative point. There are excellent private banks without a rating.
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