History of the Bank

BLOM BANK’s journey started in the 1950s and more precisely in 1951 in Beirut. Its launching coincided with a booming in the banking sector which made Lebanon a banking and financial hub in the Middle East. At first, BLOM BANK’s banking activities revolved around commercial banking and financing; but soon grew to become one of the most important comprehensive banks in the region, standing at the vanguard of Lebanese and Arab banks. 

Ever since its beginnings, the Bank’s activities were directed towards Lebanon and abroad equally. It opened its first branch in Jeddah, Kingdom of Saudi Arabia in 1953. As the Lebanese War broke out in 1975, the Bank expanded further outside Lebanon, especially in Europe and the Gulf, to cater to the needs of the Lebanese Diaspora. By the beginning of the 21st century, BLOM BANK started exploring Arab markets further due to sharing the same culture and the high quality services offered regionally and internationally.

Nowadays, BLOM BANK is actively present in 12 European and Arab countries which are Lebanon, Egypt, Jordan, United Arab Emirates, Qatar, France, Switzerland, United Kingdom, Romania, Cyprus and Iraq. The Bank offers its comprehensive services via numerous banking and financing units and affiliates which includes banks, financial institutions, and insurance companies. This makes BLOM BANK the most widely spread Lebanese bank. 

In 17 June 2017, BLOM BANK announced the acquisition of the assets and liabilities of HSBC Bank – Middle East Lebanon after acquiring the approval of Banque du Liban. 

On the leadership level, Dr. Naaman Azhari, a prestigious banker, was appointed General Manager of the Bank in 1961, then became Chairman of the Board and General Manager in 1971. Dr. Azhari’s career in the banking sector started in 1951 after acquiring a PhD in Economy, a Bachelor in Law, and a Diploma in Political Science from Paris. Following a journey filled with major professional achievements in Syria where he occupied very important positions. Dr. Azhari then moved to Beirut in 1962 after the nationalization of the banks in Syria to work as the manager of a small bank in Lebanon whose assets at the time did not exceed 5 million dollars; while maintaining the position of Chairman of the Board of Banque de L’Orient Arabe which he established in Syria. This is how Dr. Naaman Azhari’s started his journey with BLOM BANK. In 2008, after the Group started providing banking services directly and through affiliated banks, Dr. Naaman Azhari was appointed Chairman of the Board of BLOM BANK Group, while Mr. Saad Azhari became Chairman of the Board and General Manager of BLOM BANK. 

Throughout its operation years, BLOM BANK preserved durable growth on both its budget and return levels, thus occupying a vanguard position in the banking sector for years. This maintained success is the inevitable result of the Management’s conservative policies and their endeavors to ensure “Peace of Mind”.

List of Banks No. 14. Copyright © 2019 BLOM BANK