Bank_of_Beirut

Bank of Beirut

Bank of Beirut

Commercial bank based in Beirut, Lebanon

Bank of Beirut (Arabic: بنك بيروت, not to be confused with Bank of Beirut and the Arab Countries) is a commercial bank in Beirut, Lebanon. Bank of Beirut was founded in 1963 as Realty Business Bank S.A.L. and in 1970, changed its name to the current name.[1] In 1993, a group of bankers and businessmen headed by Salim Sfeir, the current chairman and CEO,[2][3] acquired the five-branch bank, which ranked 35 out of the 71 banks operating that year, and in 1997, Bank of Beirut was listed on the Beirut Stock Exchange.[4]

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Expansion

In 1997, a strategic alliance was formed with Emirates NBD; later in 2001 Bank of Beirut opened a representative office in Dubai to serve expatriates in the GCC. In 2002, a branch was opened in Limassol, Cyprus regulated by the Central Bank of Cyprus (and closed in Dec2023), followed by the opening of a representative office in Lagos, Nigeria in 2004 and in Accra. 3 branches opened in Oman, Sohar in 2008, Ghobra in 2012, and The Wave in 2014. In 2002, Bank of Beirut (UK) Ltd, a fully owned subsidiary, was established, which opened a branch in Frankfurt, Germany in 2009 (and closed in 2019) and following the acquisition of Bank of Sydney in 2011, branches opened in Adelaide and Melbourne, in addition to Sydney.

Offices and branches

Bank of Beirut currently operates a number of branches across 4 continents that include branches in Lebanon, branches across Sydney, Melbourne, and Adelaide in Australia, branches in Oman, United Kingdom, and representative offices in Nigeria.

See also

References

  1. [1]
    "Bank Of Beirut S.a.l. - Beirut null (Beirut), Bank Of Beirut S.a.l. Bu". fr.kompass.com. Retrieved 2024-04-02.
  2. [2]
    "Salim Sfeir slated to chair Association of Banks". BusinessNews.com.lb. Retrieved 2024-04-02.
  3. [3]
    "Salim Sfeir succède à Joseph Torbey à la tête de l'ABL". Commerce du Levant (in French). 2019-08-02. Retrieved 2024-04-02.
  4. [4]
    Staff, Editorial (2023-03-31). "Bank of Beirut". Badil. Retrieved 2024-04-02.
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