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SGBL finalises Lebanese Canadian Bank acquisition
- Lebanon: Saturday, September 10 - 2011 at 11:16
Lebanon's Central Bank has granted the country's subsidiary of Societe Generale final approval to buy the assets and liabilities of Lebanese Canadian Bank (LCN), Reuters has reported. The acquisition raises SGBL's assets to $11bn, its total deposits to $8.6bn and its loans to $3bn. SGBL has said in a statement that finalisation of the acquisition was subject to a preliminary review process of accounts and transactions implemented by local and international authorities, SGBL and three international audit firms.
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StaffSaturday, September 10 - 2011 at 11:16 UAE local time (GMT+4)
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