Lebanon's Blom Bank 2019 net profit fell 77% in 2019

Credit: REUTERS/Goran Tomasevic

Blom Bank, one of Lebanon's largest, said on Thursday its net profits fell by 77% to $115.4 mln in 2019 as the country was hit by a financial and economic crisis.

BEIRUT, July 16 (Reuters) - Blom Bank BLOM.BY, one of Lebanon's largest, said on Thursday its net profits fell by 77% to $115.4 mln in 2019 as the country was hit by a financial and economic crisis.

"The results obtained were largely as expected, and affected by the impact of the financial and economic crisis that has struck Lebanon since October 2019," Blom Bank said in a statement.

"The Board of Directors has noted and approved the adverse opinion of the external auditors concerning the financial statements of our bank in Lebanon for year 2019," it added.

(Writing by Tom Perry;Editing by Elaine Hardcastle)

((thomas.perry@thomsonreuters.com; Reuters Messaging: thomas.perry.reuters.com@reuters.net))

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