File - The BLOM Bank headquarters in Beirut, Tuesday, Oct. 28, 2014. (The Daily Star/Mohammad Azakir)
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The improved performance of BLOM's subsidiaries in the Middle East region has boosted the bank's net profits in 2014, its chairman said Thursday.BLOM, the second-largest bank in Lebanon in terms of assets and deposits, said it posted the largest net profit among all lenders in 2014, with a net income of $365.37 million, an increase of 3.57 percent.Azhari said that the lender's conservative policy was one of the reasons that allowed BLOM Bank to maintain the same profits or increase them slightly.BLOM said that return on average equity and return on average assets were also high last year.BLOM's total assets in 2014 surged by 7 percent to $27.98 billion, while customer deposits rose 6.34 percent to $24.01 billion.
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