Founded: 1961 Total Assets*: US$4.05 billion Customer Deposits*: US$3.24 billion Ranking by Assets*: 12 (*as of Dec 31, 2021, ABL Almanac 2022, converted at LL1507.5/US$) Background IBL Bank first opened in 1961 under the name ‘Development Bank SAL’. In 1998, most shares were acquired by Lebanese...
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...
Founded: 1991 Total Assets*: US$3.51 billion Customer Deposits*: US$3.09 billion Ranking by Assets*: 14 (*as of Dec 31, 2021, ABL Almanac 2022, converted at LL1507.5/US$) Background Founded in 1991 under the name Commerce Bank, Lebanon Invest acquired a 62% stake in 2000 and, following a 2002...
Founded: 1980 Total Assets*: US$2.64 billion Customer Deposits*: US$1.96 billion Ranking by Assests*: 15 (*as of Dec 31, 2021, ABL Almanac 2022, converted at LL1507.5/US$) Background Selim Ismail Kheireddine, Marwan Yusuf Kissirwani, and Omar Jundi established Al-Marwarid Bank, otherwise known as...
Why illegal cross-border commerce is so hard to stop.
Recent $150 million World Bank loan another step into the debt abyss without long-term food security strategy.
Lebanon’s 2022 budget’s has a preference for regressive taxation, potentially shielding the wealthy while financially straining ordinary citizens.
Lebanon amends banking secrecy law to appease the IMF but leaves loopholes to protect politico-banking elite.
Addressing Lebanon’s banking turmoil through lirafication debates, accountability for large deposits, clawbacks, bankruptcy laws, and potential conflicts of interest in governance.
