Byblos Bank

Byblos Bank
Public
Traded as BYB (BSE)
BYB (LSE)
Industry Banking, Financial services
Founded 1963 (current)
1950 as Société Commerciale et Agricole Byblos Bassil Frères & Co. (1963 (current)
1950 as Société Commerciale et Agricole Byblos Bassil Frères & Co.)
Founders François S. Bassil, Semaan Bassil, Youssef Melkan Bassil, Victor Fernainé, Fouad Fernainé
Headquarters Byblos Bank Headquarters
Ashrafieh, Elias Sarkis Avenue
Beirut, Lebanon
Area served
 Africa, Europe, Middle-East[1]
Key people
 François Bassil
(Chairman)
Products Consumer banking, Commercial banking, Correspondent banking, Capital market
Increase US$ 175.7 million (2015)[2]
Total assets Increase US$ 19 billion (2015)[2]
Total equity Decrease US$ 1.91 billion (2014)[2]
Number of employees
 1,799 (2014)
Subsidiaries
  • Byblos Bank Europe S.A
  • Byblos Bank Africa
  • ADIR Insurance and Reinsurance S.A.L
  • Byblos Bank Syria
  • Byblos Bank Armenia
  • Byblos Bank RDC
Website ByblosBank.com

Byblos Bank (abbreviated as BYB) is a Lebanese bank established in 1963 and headquartered in Beirut, Lebanon. It is the country’s third largest bank by assets.[3] In 2014, The Banker magazine listed Byblos Bank as having the highest Tier 1 capital to assets ratio among Lebanese banks for the fifth consecutive year,[4] making it the country’s most solid bank. In 2013, the bank was ranked as the 134th company in the Arab world by Forbes.[5] Byblos Bank held about 10% of system assets at end-2012,[3] and is one of the Alpha banks in Lebanon, along with Bank Audi, BLOM Bank, and Fransabank,[6] which are its main competitors. It currently operates 78 branches in Lebanon.[1]

History

Byblos Bank was initially founded in 1950 as “Société Commerciale et Agricole Byblos Bassil Frères & Co.”, a Lebanese company specialized in natural silk, leather tanning, and agricultural credit activities.[7] In 1961, the company’s name was changed to “Société Bancaire Agricole Byblos Bassil Frères & Co.”, and in 1963 it was established as Byblos Bank S.A.L and registered at the newly established Banque du Liban.[8]

The initial founders include Semaan Bassil, Youssef Melkan Bassil, Victor Fernainé and Fouad Fernainé, all hailing from powerful families based in the ancient Phoenician town of Byblos, north of Beirut.[9] François S. Bassil, the current chairman, contributed to the establishment of Byblos Bank S.A.L in 1963.

Byblos Bank Tower.
The Byblos Bank tower in Ashrafieh, Beirut.

International partnerships

Byblos Bank has established partnerships with several international entities including: the International Finance Corporation (IFC), which is the private sector arm of the World Bank Group,[10] the Agence Française de Développement (AFD), which is a public institution providing development financing and its subsidiary, the Société de Promotion et Participation pour la Coopération Economique (PROPARCO).[11] These institutions are among the Bank’s most notable shareholders. In 2009, Byblos Bank appointed The Bank of New York Mellon as depositary bank.[12]

Listing and areas served

Byblos Bank is listed on the Beirut Stock Exchange (BYB)[13] and became in 2009 the first Lebanese issuer to list in the London Stock Exchange for twelve years.[14] It also actively operates in 11 countries in the Middle East, Europe, and Africa including: the United Kingdom, France, Belgium, Armenia, Cyprus, the United Arab Emirates, Syria, Iraq, Sudan, Nigeria, and the Democratic Republic of the Congo.[1]

See also

References

  1. 1 2 3 "Illustrious Banking". The Business Year. Retrieved 10 October 2014.
  2. 1 2 3 "Byblos Bank profits up 12.5 percent". The Daily Star. Retrieved 2 February 2015.
  3. 1 2 "Fitch Affirms Byblos Bank at 'B'; Outlook Stable". Reuters. Retrieved 19 August 2014.
  4. ↑ "Byblos Bank: Lebanon’s Most Solid Bank for Fifth Straight Year". Executive Magazine. 18 August 2014. Retrieved 30 September 2014.
  5. ↑ "#134 Byblos Bank". Forbes. Retrieved 18 August 2014.
  6. ↑ "Top Banks in Lebanon". Marcopolis. Retrieved 8 October 2014.
  7. ↑ "Byblos Bank". Down Town Beirut - Directory. Retrieved 6 November 2014.
  8. ↑ "The Byblos Bank Story". ByblosBank.com. Byblos Bank Group. Retrieved 6 November 2014.
  9. ↑ "Banks Lebanon". Ostamyy. Retrieved 6 November 2014.
  10. ↑ "IFC Byblos Bank Investment to Increase Access to Finance for Small and Medium Enterprises". IFC.org. Retrieved 7 October 2014.
  11. ↑ "Soutenir une banque libanaise dans sa stratégie de développement international". Proparco.fr. Retrieved 13 October 2014.
  12. ↑ "The Bank of New York Mellon Appointed as Depositary Bank by Byblos Bank S.A.L.". BNY Mellon. Retrieved 3 November 2014.
  13. ↑ "Byblos Bank (BYB)". Beirut Stock Exchange. Retrieved 13 October 2014.
  14. ↑ "The London Stock Exchange is delighted to welcome Byblos Bank sal to the Main Market". London Stock Exchange. Retrieved 13 October 2014.

External links

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