Wednesday 23 July 2014
 
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Lebanese bank

Saudi Blominvest wins approval for capital hike

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

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Top Lebanese bank Audi profit up 14pc

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. Consolida

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Bank Audi wins nod for $300m Turkish unit

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

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EFG-Hermes buys 65pc in Lebanese bank

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

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