BLOM Bank inaugurated its new branch in Erbil, BLOM Bank Bldg., 60 Meter St., Near Eskan Intersection, in the presence of Dr. Naaman Azhari Chairman of BLOM BANK Group, Mr. Saad Azhari Chairman & General Manager of BLOM BANK, Mr. Georges Chedid Erbil Branch manager, and many other notorious business men in the financial and economic world with the honoring presence of the Governor of Erbil Mr. Nawzad Hadi and Mr. Dara Jalil Khayat President of Erbil Chamber of Commerce Industry, Kurdistan Region of Iraq.

On this occasion, Mr. Saad Azahri delivered a speech as follows:

Ladies and Gentlemen,

Esteemed Gathering,

I am honored in my name and BLOM Bank’s name to be present in the city of Irbil today on the occasion of opening the first branch of BLOM Bank in this authentic but modernizing city, which embodies the economic, financial, and cultural resurgence that Kurdistan is witnessing. We at BLOM are very proud of our new presence here so as to contribute to the development of the banking sector and to provide excellent financing opportunities and banking services to the Kurdistan economy. This economy, which is due to its wise incentives policies, sustainable security, and rich resources, has been able to attain high growth rates and per-capita income levels, and to become a diversified oil economy. In addition, and in the process, it has been able to attract more than $30 billion in foreign and domestic investments in various economic sectors, including the banking and financial sector.

As you already know, the Kurdistan economy has quite a few Lebanese banks who have earned hard-won credibility in safe and successful banking. And the truth is that BLOM Bank has always been at the forefront of Lebanese banking and has consistently and consensually won “Best Bank in Lebanon” from the most recognized international institutions. BLOM Bank, thanks to its conservative policies and to its safe and rewarding products, has maintained steady and balanced growth in its balance sheet and profits: it assets have reached $27.5 billion by end-September 2014 and its annual profits have exceeded $360 million. BLOM Bank has also preserved its dynamism through the constant delivery of inventive and ultra-modern financial products that meet the growing needs of our clients, and through its successful and measured expansion strategy to 13 Middle Eastern and European countries. And as is customary, BLOM Bank will offer the best commercial banking services to its clients in Irbil, and will reinforce the confidence in dealing and transacting with banks and the importance of finding financial solutions to individuals and companies through them. Our presence here will also reinforce the increasing commercial and financial ties between Lebanon and Kurdistan and the growing business opportunities to the Lebanese and Arab expatriates.

I would like to take this opportunity to express my special thanks to all those involved in realizing our expansion to here in Irbil. This first includes the esteemed officials at the Central Bank of Iraq and Kurdistan, my colleagues at BLOM Bank, and last but not least the staff and management of our branch in Irbil and its dear present and future customers. I also wish this branch all the success in this good city and in this promising country, which I hope it remains a lighthouse for economic, cultural, and financial developments, and a citadel for peace, security, and anti-extremism.