Founded: 1981
Total Assets*: US$3.68 billion
Customer Deposits*: US$2.97 billion
Ranking by Assets*: 13
(*as of Dec 31, 2020, Bilanbanques 2021, converted at LL1507.5/US$)
Background
Creditbank was founded in 1981 under the name Credit Bancaire by Joseph Khalife and Fouad Zoghby. It acquired Credit Lyonnais SAL, the local subsidiary of the French bank Credit Lyonnais, in 2002, and changed its name to Creditbank.
The Alternative did not identify politically exposed persons amongst Creditbank’s board of directors or shareholders.
[1] Creditbank, ‘Creditbank’, accessed 17 March 2023, https://www.creditbank.com/AboutUs/CreditbankProfile.aspx
Edit: This infographic formerly contained incorrect information related to CreditBank’s shareholders. Najib Michel Semaan was stated to own 4.69% of the bank, whereas, in fact, Maria Khalifé Bazerji owns the aforementioned shares. The infographic also stated that the Al-Mutlaq Group owned 48.59% of Creditbank, whereas it is owned by Financial Trust Participation Holding SAL. The infographic has now been corrected.
Disclaimer
All content provided in this report (the Report) is for informational purposes only and does not constitute legal, financial or any other professional advice. The Alternative has made every attempt to ensure the accuracy and reliability of the information provided in the Report. However, due to the opacity of available sources of information, The Alternative has relied on the most up to date and self-reported figures from the Association of Banks in Lebanon (ABL) and its member banks, when available. When ABL and banks data was not available, The Alternative relied on physical copies of Lebanon’s commercial registry, online databases and other credible sources. In addition, The Alternative contacted each of the bank’s communications departments for confirmation of data regarding the shareholding and management of said banks. Only Bank Audi and BLOM Bank provided relevant information, both of which have been included in their entirety. Amongst others, the sources of the Report include various commercial registries, official bank websites, online aggregators, databases dedicated to company registration, the Organised Crime and Corruption Reporting Project (OCCRP), Bilanbanques reports, and many others.
The information provided in the Report is done “as is” without warranty of any kind, express or implied. The Alternative shall not be held liable for any errors or omissions in this information nor for the availability of this information. The Alternative does not accept any responsibility or liability for the accuracy, content, completeness, legality, or reliability of the information contained in the Report. Furthermore, The Alternative shall not be liable for any losses or damages from the display or use of this information. If anyone has information relating to the Report, The Alternative welcomes it. All information sent to The Alternative will undergo a thorough validation process, and the report will be updated accordingly. For any relevant information or inquiries, please contact [email protected].
