(MENAFN- Khaleej Times) Lebanon's Blom Bank reported a 6.4 per cent rise in first-half profit to $175.84 million despite what it described as a tough economic environment in the Middle East.
Blom said it allocated nearly $63 million in net provisions "to account for the challenging operating conditions in Lebanon and the region" and pointed to a "noticeable decline" in its operations in neighbouring Syria, suffering a bloody civil war.
The violence in Syria has spilled over into Lebanon and contributed to a sharp slowdown in the Lebanese economy over the last two years.
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