Saad Azhari – Q&A

Despite the challenges of 2013 BLOM Bank has maintained significant growth thanks to its ability to react to developments in Lebanon and the region. Saad Azhari, the bank’s chairman and general manager, shares his experience and looks to 2014 with Executive. Tell us a bit about the performance of the bank in 2013. Our nine month results [show] an improvement; the profits of the bank increased 4 to 5 percent. There was also growth in assets, in deposits and in loans, so overall I would say a moderate growth of around 5 percent [across] the balance sheet. What is your take on the macroeconomic situation? For sure, if the situation of the economy was better we would have had higher growth. Normally it is better. The economic growth in the country estimated this year is around 1.5 percent, definitely much lower than we have seen between the years 2008 and