Byblos Bank

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.[6] It is one of the Alpha banks in Lebanon, along with Banque Libano-Française S.A.L. (BLF), Bank Audi, BLOM Bank, and Fransabank,[7] which are its main competitors. As at 31 July 2018, it operates 88 branches in Lebanon.[8]

Byblos Bank
TypePublic
BYB (BSE)
BYB (LSE)
IndustryBanking, Financial services
Founded1963 (current)
1950 as Société Commerciale et Agricole Byblos Bassil Frères & Co. (1963 (current)
1950 as Société Commerciale et Agricole Byblos Bassil Frères & Co.)
FoundersSemaan Melkan 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
Semaan Bassil
(Chairman and General Manager) [2]
ProductsConsumer banking, Commercial banking, Correspondent banking, Capital markets
US$ 170.1 million (2017)[3]
Total assets US$ 22.7 billion (2017)[3]
Total equity US$ 2.16 billion (2017)[4]
Number of employees
2,524 (2016)[5]
Subsidiaries
  • Byblos Bank Europe S.A
  • ADIR Insurance and Reinsurance S.A.L
  • Byblos Bank Armenia
WebsiteByblosBank.com

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.[9] 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.[10]

The initial founders include Semaan Melkan 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.[11] François Bassil, the current Chairman of Byblos Bank Group, contributed to the establishment of Byblos Bank S.A.L in 1963.[12]

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,[13] 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).[14] These institutions are among the Bank’s most notable shareholders. In 2009, Byblos Bank appointed The Bank of New York Mellon as depositary bank.[15]

Listing and areas served

Byblos Bank is listed on the Beirut Stock Exchange (BYB)[16] and became in 2009 the first Lebanese issuer to be listed on the London Stock Exchange.[17] It also actively operates in 9 countries in the Middle East, Europe, and Africa including: the United Kingdom, France, Belgium, Armenia, Cyprus, the United Arab Emirates, Iraq, and Nigeria.[1][18][19]

See also

References
  1. "ILLUSTRIOUS BANKING". The Business Year. Archived from the original on 20 April 2019. Retrieved 10 October 2016.
  2. "François Bassil, Semaan Bassil take new Byblos roles". The Daily Star. Retrieved 12 January 2018.
  3. "Byblos Bank confirms its solid financial position at end 2017". Zawya. Retrieved 28 August 2018.
  4. "Annual Report 2017" (PDF). ByblosBank.com. Retrieved 28 August 2018.
  5. Chalu, Philippe. "Semaan Bassil, PDG de la Byblos Bank". Le Commerce du Levant. Retrieved 12 January 2018.
  6. "Fitch Affirms Byblos Bank at 'B'; Outlook Stable". Reuters. Retrieved 19 August 2014.
  7. "Top Banks in Lebanon". Marcopolis. Retrieved 8 October 2014.
  8. "Annual Report 2017" (PDF). ByblosBank.com. Retrieved 10 August 2018.
  9. "Byblos Bank". Down Town Beirut - Directory. Retrieved 6 November 2014.
  10. "The Byblos Bank Story". ByblosBank.com. Byblos Bank Group. Archived from the original on 13 July 2017. Retrieved 6 November 2014.
  11. "Banks Lebanon". Ostamyy. Archived from the original on 28 March 2014. Retrieved 6 November 2014.
  12. "BYBLOS BANK SAL (BYB)". Market Screener. Retrieved 10 August 2018.
  13. "IFC Byblos Bank Investment to Increase Access to Finance for Small and Medium Enterprises". IFC.org. Retrieved 7 October 2014.
  14. "Soutenir une banque libanaise dans sa stratégie de développement international". Proparco.fr. Retrieved 13 October 2014.
  15. "The Bank of New York Mellon Appointed as Depositary Bank by Byblos Bank S.A.L." BNY Mellon. Archived from the original on 3 November 2014. Retrieved 3 November 2014.
  16. "Byblos Bank (BYB)". Beirut Stock Exchange. Archived from the original on 30 October 2014. Retrieved 13 October 2014.
  17. "The London Stock Exchange is delighted to welcome Byblos Bank sal to the Main Market". London Stock Exchange. Archived from the original on 14 July 2014. Retrieved 13 October 2014.
  18. "Byblos Bank Releases Financial Results for First Half of 2017". Byblos Bank. Retrieved 30 May 2018.
  19. "Byblos Bank cherche à se retirer de la RDCongo". Le Commerce du Levant. Retrieved 10 August 2018.
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