New Year's communication sent to our customers

31 Dec 2019

New Year's communication sent to our customers

We would like to take this opportunity to extend to you our most sincere wishes for 2020. BLOM BANK FRANCE assures you of its continuous commitment to provide the best and most secure banking services at all times.

Dear Valued Customer,

We are pleased to enclose herewith your bank account statements as at 31/12/2019 and seize the opportunity to extend to you our most sincere wishes for the year 2020. BLOM BANK FRANCE ensures you of its continuous commitment to provide you with the best and most secure banking services at all times.


Our 2019 figures and ratios reflect our commitment to maintain a high capital adequacy ratio (currently at 33%, which represent 2.75 times the required regulatory ratio) and a very comfortable liquidity cushion (currently a loan to deposit ratio of below 45%) thus confirming our high level of auto-sufficiency.

In these difficult circumstances which Lebanon, the country of establishment of our mother-bank, is encountering from economic and financial perspectives, it is essential for us to highlight the ring-fencing policy that BLOM BANK FRANCE has been following to isolate itself and its customers from the Lebanese country risk:

- First of all, BLOM BANK FRANCE is a French banking establishment incorporated in Paris and regulated by the Banque de France, under the supervision of the ACPR (Autorité de Contrôle Prudentiel et de Résolution).
Our fully owned subsidiary, BLOM BANK Switzerland, and the entities in the UAE, U.K. and Romania, which are branches of BLOM BANK FRANCE, are under both French and local supervisions.

- It is important to note that BLOM BANK FRANCE has no exposure on the Lebanese sovereign risk and, given the nature of its activity, it also has an insignificant exposure to the Lebanese banking sector representing less than 2% of its shareholders’ equity as a result of our long-standing Chinese wall policy.


We thank you again for your loyalty to our institution and remain at your disposal to cater for all your banking needs.


Yours faithfully,


BLOM BANK FRANCE
General Management

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