BEIRUT: Lebanese lender Blom Bank on Wednesday said net profit held steady in the first nine months of the year, despite political turmoil that is weighing on economic growth.

Net profit inched up 0.2 percent to $236.3 million, the bank said. Assets rose by $1.3 billion to $23.4 billion and deposits rose by $1.1 billion to $20.3 billion.

"These results commend the bank's performance amid operating conditions characterized by political tensions in Lebanon and upheavals in the region, and by debt crises and economic slowdown at the global level," the bank said.

Lebanon's economic growth is expected to slow to 2 to 3 percent this year after several years around 8 percent, largely due to political tension which engulfed the country in the first half of 2011.

That tension brought down the government of Prime Minister Saad al-Hariri in January and after months of political bickering Lebanese officials agreed on the formation of the government of Prime Minister Najib Mikati.

Blom has a presence in 12 countries including Syria where President Bashar al-Assad has been facing a revolt against his 11-year rule for the past seven months.

It also operates in Egypt, where a popular uprising toppled President Hosni Mubarak in February.