Byblos Bank
| Company type | Public |
|---|---|
| BYB (BSE) BYB (LSE) | |
| Industry | Banking, Financial services |
| Founded | 1963 (current) 1950 as Société Commerciale et Agricole Byblos Bassil Frères & Co. |
| Founders | François S. Bassil, Semaan Bassil, Youssef Melkan Bassil, Victor Fernainé, Fouad Fernainé |
| Headquarters | , Lebanon |
Area served | Africa, Europe, Middle-East[1] |
Key people | François Bassil (Chairman) |
| Products | Consumer banking, Commercial banking, Correspondent banking, Capital market |
 US$ 175.7 million (2015)[2] | |
| Total assets | US$ 19 billion (2015)[2] |
| Total equity |  US$ 1.91 billion (2014)[2] |
Number of employees | 1,799 (2014) |
| Subsidiaries |
|
| Website | ByblosBank.com |
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.[3] In 2014, The Banker magazine listed Byblos Bank as having the highest Tier 1 capital to assets ratio among Lebanese banks for the fifth consecutive year,[4] making it the country’s most solid bank. In 2013, the bank was ranked as the 134th company in the Arab world by Forbes.[5] Byblos Bank held about 10% of system assets at end-2012,[3] and is one of the Alpha banks in Lebanon, along with Bank Audi, BLOM Bank, and Fransabank,[6] which are its main competitors. It currently operates 78 branches in Lebanon.[1]
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.[7] 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.[8]
The initial founders include Semaan 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.[9] François S. Bassil, the current chairman, contributed to the establishment of Byblos Bank S.A.L in 1963.
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,[10] 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).[11] These institutions are among the Bank’s most notable shareholders. In 2009, Byblos Bank appointed The Bank of New York Mellon as depositary bank.[12]
Listing and areas served
Byblos Bank is listed on the Beirut Stock Exchange (BYB)[13] and became in 2009 the first Lebanese issuer to list in the London Stock Exchange for twelve years.[14] It also actively operates in 11 countries in the Middle East, Europe, and Africa including: the United Kingdom, France, Belgium, Armenia, Cyprus, the United Arab Emirates, Syria, Iraq, Sudan, Nigeria, and the Democratic Republic of the Congo.[1]
See also
References
- ^ a b c "Illustrious Banking". The Business Year. Retrieved 10 October 2014.
- ^ a b c "Byblos Bank profits up 12.5 percent". The Daily Star. Retrieved 2 February 2015.
- ^ a b "Fitch Affirms Byblos Bank at 'B'; Outlook Stable". Reuters. Retrieved 19 August 2014.
- ^ "Byblos Bank: Lebanon's Most Solid Bank for Fifth Straight Year". Executive Magazine. 18 August 2014. Retrieved 30 September 2014.
- ^ "#134 Byblos Bank". Forbes. Retrieved 18 August 2014.
- ^ "Top Banks in Lebanon". Marcopolis. Retrieved 8 October 2014.
- ^ "Byblos Bank". Down Town Beirut - Directory. Retrieved 6 November 2014.
- ^ "The Byblos Bank Story". ByblosBank.com. Byblos Bank Group. Retrieved 6 November 2014.
- ^ "Banks Lebanon". Ostamyy. Retrieved 6 November 2014.
- ^ "IFC Byblos Bank Investment to Increase Access to Finance for Small and Medium Enterprises". IFC.org. Retrieved 7 October 2014.
- ^ "Soutenir une banque libanaise dans sa stratégie de développement international". Proparco.fr. Retrieved 13 October 2014.
- ^ "The Bank of New York Mellon Appointed as Depositary Bank by Byblos Bank S.A.L." BNY Mellon. Retrieved 3 November 2014.
- ^ "Byblos Bank (BYB)". Beirut Stock Exchange. Retrieved 13 October 2014.
- ^ "The London Stock Exchange is delighted to welcome Byblos Bank sal to the Main Market". London Stock Exchange. Retrieved 13 October 2014.