Bank of Beirut S.A.L.

Bank of Beirut S.A.L.

company_name = Bank of Beirut S.A.L.
location = flagicon|Lebanon Beirut, Lebanon
key_people = Salim G. Sfeir — Chairman;
Salim G. Sfeir — Vice Chairman;
.Fawaz H. Naboulsi — Deputy General Manager;
. industry = Finance
products = Financial Services
homepage = []

The Bank Of Beirut is one of Lebanon’s leading commercial banks operating in 6 countries and offering a large range of wholesale and retail banking services. The Bank’s current management has pursued a focused strategy that emphasized growth (whether organic or through acquisitions), innovation in products and services, as well as value creation. The Bank has positioned itself in the local market as the provider of efficient banking services and competitive products, targeting mainly affluent customers and SMEs, and selectively larger capital investment projects and local “prime” corporations. The increase in the Bank’s branch network resulting from the acquisition of operating banking institutions enabled it to cater for and service a larger clientèle base. In December 2005, and according to BANKDATA Financial Services WLL, the Bank ranked sixth in terms of total assets and fifth in terms of profitability amongst the 55 commercial local banks that are currently operating in Lebanon.

The Bank’s main activities consist of retail banking services (e.g. consumer lending, savings plans, bancassurance and cards), commercial and corporate banking services (e.g., extending various forms of credit facilities and lending to large corporations and SMEs), trade finance services (Letters of Credit and Letters of Guarantee), correspondent banking services, and treasury and capital markets activities. In 1997, the Bank was the first bank in Lebanon to launch Asset Management services to target high net worth customers in both the domestic and regional markets.

The Bank operates in Lebanon through one of the largest networks, with 43 branches. The Bank is currently in the process of opening additional branches and is using to this effect a highly advanced tool based on Geographic Information System (GIS) having various maps and data sets integrated.

On the international level, and, as a result of the Beirut Riyad Bank s.a.l. acquisition in December 2002, the Bank provides commercial banking services in the United Kingdom and the rest of Europe , through a wholly-owned subsidiary, Bank of Beirut (UK) Ltd, regulated by the FSA. The Bank also operates a branch in Cyprus, regulated by the Central Bank of Cyprus, a Representative Office located in Dubai, United Arab Emirates, to service the Gulf region, a Representative Office located in Lagos, Nigeria, and, more recently, a Representative Office located in Baghdad, Iraq .The Bank also has launched on February 10th, 2007, its new Branch in Muscat, Sultanate of Oman.


Bank of Beirut’s mission is to be a universal financial institution endeavoring to serve the broadest range of retail and wholesale customers by offering them the full array of first class and personalized banking services and products. In Lebanon , the Bank intends to continue to grow locally by providing its customers with all types of innovative services and products. Outside Lebanon , the Bank will build its commercial and correspondent banking activities with an emphasis on the MENA region and on the Arab and Lebanese communities worldwide.

In order to fulfil its mission, Bank of Beirut’s strategy is to enlarge domestically the range of banking products offered while expanding its regional and international presence. The Bank purports to implement this strategy organically and by selective acquisitions through a five point key plan consisting of (i) customer intimacy, (ii) domestic emphasis on growth of business and clientèle base, (iii) geographic focus on MENA and African countries and selective growth in Europe, (iv) the introduction of new products and services and (v) cost control and operational excellence.

The bank operates in Lebanon through a growing network that reached 43 branches and it intends to maintain its domestic expansion strategy by opening annually at least two branches in selected areas within the country where the Bank is not present in terms of direct location and where it foresees a growth potential.

On the international level, the bank provides commercial banking services in the United Kingdom and the rest of Europe through a wholly owned subsidiary in London - United Kingdom (Bank of Beirut (UK) Ltd). The bank also operates a branch in Limassol, Cyprus, a branch in Muscat, Sultanate of Oman, and three Representative Offices located in Dubai, UAE, Lagos, Nigeria and Bagdad, Iraq. In addition, the Bank operates in Lebanon an insurance brokerage firm (Beirut Brokers s.a.r.l.).

In order to better serve its customers, the Bank is adding new banking services to its existing ones. The Bank is currently the Leading Asset Manager in Lebanon . It has also recently opened an independent Investment Bank, Bank of Beirut Invest SAL. Looking ahead, the Bank intends to implement very soon a Private Banking structure at international level. It is the stated objective of the Bank that any new activity is to be managed by highly experienced professionals with an international exposure, and, whenever needed, in collaboration with an international bank. The Bank also intends to expand its fee income business by continuing to focus on off-balance sheet activities, such as trade finance and capital markets.

Also, an important part is the investment in Human Resources. In this respect, Bank of Beirut’s strategy in terms of human resources lies in having a competent, motivated and loyal workforce. This is achieved through an advanced performance management system, ensuring the staff’s adherence to the Bank’s Mission , Vision and Values and a recurrent training and recruitment program concentrated on improving competencies and attracting and nurturing talents.


The Bank was incorporated as a commercial bank on August 19th, 1963, under the name of “Realty Business Bank s.a.l.” and was registered in the Beirut Commercial Register, under No. 13187 and on the Banks’ List at the Central Bank of Lebanon , under No. 75. The Gefinor Group took control of the Bank in 1970 and renamed it “Bank of Beirut s.a.l.”

During the unsettled period between 1975 and 1990, the Bank’s shareholding changed hands several times, and, in 1980, it was acquired by a group of high net worth individuals none of whom had a banking background. Several years later and as a result of several capital increases, the Bank’s equity became owned by one of the individual shareholders.

In 1993, after the renewed confidence in the country’s economic and political prospects, the Bank was acquired by a group of seasoned bankers and businessmen headed by the current Chairman, Mr. Salim G. Sfeir. As at December 31st 1993, the Bank had only 5 branches and ranked number 23 in terms of assets and 36 in terms of net profits within the Lebanese Banking sector (out of 71 operating banks).

The Bank has currently 2,098 shareholders (Common Shares and Preferred Shares), which include a core group of long-standing shareholders, who together hold a majority of the shares of the Bank. Mr. Salim G. Sfeir has been Chairman General Manager of the Bank since 1993. The Board of Directors of the Bank comprises representatives of the major institutional and individual investors, as well as senior management executives. The Executive Management of the Bank is composed of individuals with strong banking background who are involved in the running of the day-to-day operations.

Since 1993, the Bank embarked on a carefully studied expansion program, aiming at enhancing its market position while minimizing risks. This was achieved through organic growth as well as a number of transactions ranging from private placements and issuance of Preferred Shares, to entering into strategic alliances with regional Arab banking institutions, and acquiring other institutions.

During the period extending from 1993 until end of 2005, the Bank progressed from the 23rd position in assets in the Lebanese Banking Sector to that being one of the top 6 banks in the country. This growth has been achieved while following conservative risk management policies, particularly through credit risk diversification, steady decrease in relying on sovereign risk instruments, controlling the interest rate risk by reducing mismatch gaps and maintaining important liquidity level in local and foreign currencies, especially by preserving considerable placements with highly rated non-resident banks.

The Bank’s Head Office is located in Foch Street, Bank of Beirut Building, Beirut Central District, Lebanon.

Board Of Directors

Mr. Salim G. Sfeir, Chairman General Manager.

Mr. Salim G. Sfeir, Vice Chairman.

Mr. Fawaz H. Naboulsi, Deputy General Manager - Member

Mr. Antoine A. Abdel-Massih, Member.

Mr. Abdallah Ben Fahed Al-Mugayel, Member.

H. E. Anwar M. El-Khalil, Member.

Emirates Bank International pjsc, Member.

Mr. Nar A. Khatchadourian, Member.

Bank Of Beirut website

See also

Beirut Stock Exchange

Economy of lebanon


Other references

* Bank Of Beirut:Banking without borders.
* Bank Of Beirut

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