Beirut And Arab States Bank S.a.l (Arabic ：بنك بيروت والبلاد العربية， Not To Be Confused With Beirut Bank) Is A Lebanese Commercial Bank Established In 1956. Headquartered In Beirut, Clemencau, Is One Of The Top Ten Banks In Lebanon With A Total Capital Of 157 Billion LBP. It Offers A Wide Range Of Services To Individuals And Companies, Including Private Banking, Corporate And Commercial Banking, Trade Finance, Retail Banking, Treasury And Capital Markets, And Bank Auditing.
These Companies Have 39 Branches In Lebanon, 5 Overseas Branches In Cyprus, Iraq, And Representative Offices In The UAE And Nigeria.
Background
In 1956, Three Businesspeople, Tawfiq Assaf, Nach'at Sheikh Al-Ard, And Jamal Shhaibir, Decided To Establish A Bank In Beirut And Received Permission From Liban Bank. [6] Ghassan Assaf Continued His Mission As Current Chairperson After The Death Of His Father, Tawfiq Assaf.
In 1986, The Bank Opened Its First Branch In Cyprus.
In 2001, The Bank Of Beirut And Arab States Acquired An 80% Stake In Capital Insurance And Reinsurance, Which Enabled The Bank To Expand Its Services
In 2006, The Bank's Capital Was Increased To 77 Billion Lebanese Pounds And Preference Shares Worth $50 Million Were Issued. In 2012, The Process Was Repeated Once ($80 Million), Raising His Capital To 157 Billion Lebanese Pounds.
The Bank's Assets Rank 10th In Lebanon, At 12.247 Trillion Lebanese Pounds In 2018, An Increase Of 17.26% Compared To 10.444 Trillion Pounds In 2017.
In 2017, The Bank's Net Profit Reached 74 Billion Lebanese Pounds, With A Liquidity Ratio Of 79.77% And A Capital Efficiency Of 14.75%, Which Is Higher Than The Requirements Of Local Regulators And International Standards. This Enables The Bank To Face The Future With Confidence.
Shareholders
Today, The Shareholders Of BBAC Bank Are As Follows: Assaf Family 54.45%, Fransabank 37.07% And Minority Shareholders 8.48%.
Point Person
- Chairperson Sheikh Ghassan Assaf
