Browse
related articles
Bank Audi, Byblos looking to expand in Iraq, Libya
- Lebanon: Thursday, November 29 - 2012 at 01:01
Lebanon's largest bank, Bank Audi, is planning to launch operations in Iraq next year, while rival Byblos Bank is to enter the Libyan market, as both contend with a flagging domestic economy, The Daily Star has reported. The chief executive of Bank Audi, Samir Hanna said the lender plans to open its new Iraqi operation late next year and that the new bank would be a subsidiary of its Turkish business, which launched in October and is trading "more than 50% ahead" of the bank's target. Byblos Bank is exploring a number of options for its Libyan foray that could include opening branches or buying a small private sector bank, said general manager Sami Haddad. The maximum investment would be $50m, which could be funded from existing resources, Haddad said.
Related Content
Article Options
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
