BLOM’s net income in 2009 is the highest among local banks.

The net profit achieved is four percent higher than the $280 million net profit which was forecasted for BLOM by FFA Private Bank.

Blom said that the main factor contributing to the profit rise was the low cost to income ratio of 38 percent.

Net interest income grew two percent to $419.8 million while the net operating income rose 11 percent to $603 million.

The bank said customer deposits rose 19 percent to $18 billion while its assets hit $20.7 billion at 2009-end, up 16 percent from a year earlier.

BLOM Bank’s largest shareholder is U.S.-based, Bank of New York Mellon.