Saudi Blominvest, a part of Lebanese banking group Blom, has won approval from the kingdom's capital market regulator to boost its capital to SR145 million ($38.6 million) from SR100 million, said a report.
The company provide
Lebanese lender Audi Bank said it has registered a 14 per cent rise in its net profit for the nine months which hit $309 million, despite what it said were unfavourable economic conditions in Lebanon and the Mena region.
Lebanon's Bank Audi said it had won approval to open a subsidiary deposit bank in Turkey with share capital of $300 million.
Audi, which already operates in several countries in the Mena, said its decision to expand into Turkey came as
EFG-Hermes said on Tuesday it would buy a 65 per cent stake in privately owned Lebanon's Credit Libanais as the leading Egyptian investment bank sets out to diversify its business.
EFG-Hermes agreed to pay $542 million from its own cas