Bank of Beirut
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| Company type | Commercial bank |
|---|---|
| Industry | |
| Founded | 1963 |
| Founder | Salim G. Sfeir |
| Headquarters | Beirut, Lebanon |
Area served | Middle East Europe Australia Africa |
Key people |
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| Products | |
| Subsidiaries | |
| Website | www |
Bank of Beirut (Arabic: بنك بيروت, not to be confused with Bank of Beirut and the Arab Countries) is a 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] Since the beginning of the financial crisis in Lebanon in October 2019, this bank has and continues to wrongfully withhold funds for depositors and in collaboration with the political elites of Lebanon is transferring funds they have amassed in the biggest Ponzi scheme ever.
Expansion
[edit]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) following the acquisition of Bank of Sydney in 2011, branches opened in Adelaide and Melbourne, in addition to Sydney.
Offices and branches
[edit]Bank of Beirut currently operates a number of branches across 4 continents include branches in Lebanon, branches across Sydney, Melbourne, and Adelaide in Australia, branches in Oman, United Kingdom, and representative offices in Nigeria.
See also
[edit]
- Beirut Stock Exchange
- Economy of Lebanon
- List of Banks in Lebanon
- Banque du Liban
- Intercontinental Bank of Lebanon (IBL)
- Lebanon and Gulf Bank
- Saradar Bank
- Lebanon and Gulf Bank
References
[edit]- ^ "Bank Of Beirut S.a.l. - Beirut null (Beirut), Bank Of Beirut S.a.l. Bu". fr.kompass.com. Retrieved 2024-04-02.
- ^ "Salim Sfeir slated to chair Association of Banks". BusinessNews.com.lb. Retrieved 2024-04-02.
- ^ "Salim Sfeir succède à Joseph Torbey à la tête de l'ABL". Commerce du Levant (in French). 2019-08-02. Retrieved 2024-04-02.
- ^ Staff, Editorial (2023-03-31). "Bank of Beirut". Badil. Retrieved 2024-04-02.