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BLOM Bank sal achieves an A score in Governance and Integrity Rating on online transparency and disclosure for 2017

 

Immediate Release  –  The Lebanon Report 2017

 

BLOM Bank S.A.L undertook the GIA assessment in 2013. The bank’s management committed to address all areas of improvement that were identified. GIA’s recommendations were instrumental for the enhancement of the bank’s corporate governance program. By complying with GIA’s guidelines, BLOM Bank became the first bank eligible to sign the IGI declaration in January 2014 and continues to deliver the right signals to its shareholders and investors.

 

BLOM Bank S.A.L achieved a score of 89 percent in the Excellent range (A), leading the way of transparency, accountability and integrity. The results were significant in the categories of Shareholder Rights (100 percent), Integrity (91 percent), BMSP (88 percent), and Financial Transparency (86 percent). The Audit category remained at 67 percent.

 

BLOM Bank S.A.L succeeded in positioning itself as a role model among its peers. It excelled in its disclosure on two crucial principles, embedding an effective corporate governance program and protecting shareholder rights.

 

CG Categories 2017 2015
Audit 67% 67%
BMSP 88% 83%
Financial Transparency 86% 73%
Integrity 91% 50%
Shareholder Rights 100% 57%
Total 89% 71%

 

 

For more information, please contact:

Farah Abou Salem

Analyst

fabousalem@sharholder-rights.com

+961 1 991911

 

 About Capital Concept sal

Since 2004, Capital Concept has been advising companies in the Middle East and North Africa region on corporate governance. Through its alliance with leading international organizations such as the Organization for Economic Cooperation and Development (OECD), the International Finance Corporation (IFC) and the Center for International Private Enterprise (CIPE), as well as through close relationships with regional central banks and capital market regulators, Capital Concept assists clients in implementing best in class corporate governance standards. In April 2013, Capital Concept became the first corporate governance advisory firm recognized by Lebanon’s central bank, Banque du Liban (BDL), to review the banking sector in Lebanon and the MENA region.

 

About Shareholder-Rights©

Shareholder-Rights© by Capital Concept sal (www.shareholder-rights.com), registered in the Ministry of Information of Lebanon under license number 1324/2015, is an online platform that defends shareholder rights worldwide.  Constantly rating and reviewing companies’ Environmental, Social, Governance and CyberSecurity (ESG-C)  commitment to investor rights by shedding light on corporate or regulatory adherence to best practices.

Shareholder-Rights© by Capital Concept sal is an independent provider of research, ratings and assessments on Environmental, Social, Governance and Cyber-Security (ESG-C) practices affecting the performance of public and private companies. Our researchers and analysts are precluded from engaging in any transactions involving any companies we follow. Our ratings and supporting research are intended to provide investors with a clear understanding of ESG-C practices that can and do impact shareholder democracy, investment decisions, and issuer risk. They are not, however, intended for stand-alone use and should not be considered as simple Buy, Sell or Hold recommendations. We encourage investment professionals to regard these ratings as a specialized, proprietary input to be used in combination with existing fundamental analysis or other approaches and to help comply with our standards and get certified/accredited.





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