Cabym's Weblog

the Reference blog for financial investment in Lebanon

Archive for Banks

Bank Audi supports fashion to reposition Beirut as fashion capital of the region

In view of shedding the light on Lebanon’s new role as one of the major fashion centers in the world, Bank Audi sal – Audi Saradar Group has undertaken to support the fashion festival launched in collaboration with MasterCard Worldwide and Aïshti for the second year in a row.

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BLC Bank SAL positions itself to acquire a solid majority stake in the 11th largest bank in Cyprus

BLC Bank SAL Lebanon announced today that it has acquired 9.9% of USB Bank PLC Cyprus and has signed an agreement to acquire an additional 62.94 % of the said Bank’s shares subject to regulatory authorities’ approvals and some other conditions precedent.

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Banks association signs agriculture loan deal

The Lebanese Banks Association signed on Wednesday a memorandum of understanding with the Agriculture Ministry to provide investors in the agriculture sector with soft loans ranging from LL3 million ($2,000) to LL25 million to finance small and medium enterprises (SMEs) for a four-year period at low interest rates.

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How Resilient is Lebanon’s Banking Sector?

With the global financial crisis hitting banks hard across the globe, Lebanon’s banking sector displayed considerable resilience aided by a strong flow of deposits. In 2009, bank deposits increased by 22% in light of the relatively high interest rates, and the central bank’s foreign currency reserves reached unprecedented levels. Lending activity increased in 2009, and asset quality improved in light of the prudent regulation in the country’s financial sector, and there are expectations that the banking sector will continue its robust performance through 2010.

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Lebanon’s Bank Audi buys Arabeya Online brokerage

Lebanon’s Bank Audi said on Wednesday it had acquired 90 percent of online brokerage Arabeya Online from the firm’s chairman and majority owner Naeem Holding.
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Bank of Lebanon Must Stop Issuing High Interest Rate CD’s.

It happened again. The Lebanese commercial banking sector in addition to many in the Cabinet were making the obligatory news media rounds on May 10, 2010 trumpeting the extraordinary increase in capital inflows into Lebanon. On the surface that sure is good news. But does it really reflect heightened confidence in the Lebanese economy or are the commercial banks telling only one side of a more complicated reality.

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Bank Audi, Blom Bank Rated New ‘Overweight’ on Growth 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.

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