The
Bank of Beirut and the Arab Countries (BBAC) is a commercial bank based in Lebanon, founded in 1956. It was founded by three Lebanese investors, Toufic Assaf, Nashaat Skheikhelard and Jamal Shehaiber, and is still controlled by the Assaf family. BBAC is a privately held bank registered with the Lebanese Commercial Registry under number 6196, ranking 28th on the list of Lebanese banks.
Scope of
ServicesBBAC has an extensive network of branches in Lebanon and branches in Cyprus, Iraq, the UAE and Nigeria, providing a full range of banking and financial services including retail banking, corporate banking, commercial banking and trade finance, private banking, treasury and capital markets, and bancassurance.
Regulation &
ComplianceBBAC is regulated by the Central Bank of Lebanon (Banque du Liban) and complies with the relevant regulations issued by it. The bank has implemented an Information Security Management System (ISMS) based on the ISO 27001 international standard to ensure data security and compliance.
Financial healthAccording
to BBAC's 2017 annual report, its capital adequacy ratio is 14.75%, which is higher than regulatory requirements. In addition, the net liquidity ratio in 2018 was 81.61%, indicating a good liquidity position.
Deposit & Loan
ProductsBBAC offers a variety of deposit products, including demand and time deposits, with interest rates based on the deposit amount and tenor. In Iraq, BBAC offers loan products with a maximum loan amount of US$30,000 and a maximum maturity of 5 years, with competitive interest rates and approval on a case-by-case basis.
List of common feesBBAC's
fee structure includes account management fees, transfer fees, overdraft fees, and ATM interbank withdrawal fees, depending on the account type and transaction method.
Digital Service
ExperienceBBAC's mobile banking app allows users to securely manage accounts, conduct various financial transactions, use mobile payments, and enjoy a wide range of services. The app has a rating of 1.8 out of 5 on Google Play, with user feedback focusing on the need for improvements in the user interface and functionality.
Customer Service
QualityBBAC offers 24/7 customer support services, and users can contact customer service representatives via phone, email, or live chat. The bank values customer satisfaction and provides a complaint handling mechanism to ensure that customer issues are resolved in a timely manner.
Security
MeasuresBBAC has implemented an ISO 27001 information security management system to ensure the security of customer data. In addition, the bank employs anti-fraud technology and real-time transaction monitoring to protect the safety of customer funds.
BBAC offers a wide range of financial products to meet the needs of different customer groups, including student accounts, wealth management products for the elderly, and green financial products. In addition, the bank provides private banking services and customized financial solutions to high-net-worth clients.
Market Position & Accolades
BBAC was named "Best Bank for Banking Service Quality" by the World Union of Arab Bankers in 2019 and has previously won awards such as "Best Bank for Customer Service" and "Best Brand Identity and Slogan", demonstrating its excellence in customer service and branding.
