Bank Audi, Blom Bank Rated New `Overweight' on Growth, Expansion at HSBC

Bank Audi sal -Audi Saradar Group and Blom Bank SAL, Lebanon’s two largest banks by assets, were rated “overweight” in new coverage at HSBC Holdings Plc.

“Lebanese economic growth remains robust despite political uncertainty,” analysts Shirin Panicker and David Kinsey wrote in a note to investors. “High liquidity, improving asset quality and regional expansion are key attractions.”

HSBC gave Bank Audi a price estimate of $108 and Blom Bank $120.

To contact the reporter on this story: Claudia Maedler in Dubai at cmaedler@bloomberg.net

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