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Bank Audi, Blom Bank Rated New ‘Overweight’ on Growth at HSBC

May 4 (Bloomberg) -- 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.

Link to Company News:{BLOM LB <Equity> CN <GO>} Link to Company News:{AUDI LB <Equity> CN <GO>}

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

To contact the editor responsible for this story: Shanthy Nambiar at snambiar1@bloomberg.net

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