LGB Bank

Lebanon Gulf Bank

Founded: 1963
Total Assets*: US$4.96 billion
Customer Deposits*: US$4.16 billion
Ranking by Assets*: 11

(*as of Dec 31, 2021, ABL Almanac 2022, converted at LL1507.5/US$)


Lebanon Gulf Bank (LGB) was established in 1963 under the name of Banque de Credit Agricole. In 1980, a group of businessmen led by then-chairman Abdul Hafiz Itani, acquired most of the bank’s shares and renamed the bank LGB.[1]

LGB’s board of directors counts two PEPs: Antoine Chader is a former member of Parliament[2] and lawyer for the Kataeb Party,[3] while Saeed Mirza is a former long-standing general prosecutor of the Lebanese Court of Cassation.[4]

The Alternative did not identify any PEPs amongst LGB’s shareholders.


[1] Lebanon Gulf Bank, ‘Lebanon & Gulf Bank LGB’, accessed 16 March 2023, https://www.lgbbank.com/en/Pages/about/41/historical-foundation

[2] The Lebanese University, ‘Center for Research and Studies in Legal Informatics’, accessed 22 March 2023,

[3] Archive of Al Ahed News from 1999-2018, ‘ارشيف من 2005-2008: محكمة القضاء المستعجل ردت طلب كرامة ضد حزب الكتائب’, accessed 22 March 2023 https://archive.alahednews.com.lb/details.php?id=307549

[4] Lebanon Gulf Bank, ‘Lebanon & Gulf Bank LGB’, accessed 16 March 2023, https://www.lgbbank.com/pages/director/46/10.


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].


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