Bankmed Explained

Bankmed
Type:Public
Industry:Banking
Founded:Beirut, Lebanon
Hq Location City:Beirut
Hq Location Country:Lebanon

Bankmed SAL (Arabic: بنك البحر المتوسط ش.م.ل; formerly Bankmed SAL)[1] [2] is a Lebanese bank, established in 1944,[3] owned by the holding company GroupMed.[4] [5] It is one of Lebanon’s top five banks by both assets and deposits,[6] and has 36 branches in Lebanon,[7] and one in Geneva (called Bankmed Suisse).[8] [9] Bankmed is owned by the family of Rafic Hariri, the former prime minister and billionaire businessman who was assassinated in 2005.[10] The bank is also the largest shareholder in Solidere,[11] the real estate company that rebuilt Beirut's Central District after the Lebanese Civil War.[12]

In 2020, former minister Raya El Hasan was appointed as chairperson of the board[13] [14] after the resignation of Mohammad Hariri.[15]

Bankmed’s total assets by 2018 were $19 billion.[16]

Background

Egypt-based Jordanian businessman Alaa Al Khawaja acquired the 42.24 percent stake of Ayman Hariri in GroupMed Holding which fully owns Bankmed. The other shareholders in GroupMed are Saad Hariri (42.24%) and Nazek Hariri (the remaining 15.5 percent).

Key people

See also

Notes and References

  1. Web site: Consolidated financial statement. January 2016. bankmed.com.lb. 28 August 2023.
  2. Web site: BankMed (Suisse) SA, Geneva. 2021-01-23. www.swiss-banks.info.
  3. Web site: Nixdorf. Diebold. Bankmed Launches First Deployment Of DN Series™ In Lebanon. 2021-02-06. www.prnewswire.co.uk. en.
  4. Web site: 2017-06-14. Lebanon: GroupMed announces OLT as new major shareholder. 2021-01-23. Al Arabiya English. en.
  5. Web site: Who owns the banks - Executive Magazine. 3 July 2010 . 2021-01-23. en-US.
  6. Web site: BankMed: On a charm offensive. 6 May 2015 . 2021-02-06. en-US.
  7. Web site: Bankmed. 2021-01-20. yallacompare.com.
  8. Web site: Bankmed's upside potential amid unstable Lebanese economy. 2021-01-23. www.worldfinance.com. en-US.
  9. Web site: Nixdorf. Diebold. Bankmed Launches First Deployment Of DN Series™ In Lebanon. 2021-01-23. www.prnewswire.co.uk. en.
  10. News: 2020-08-18. Rafik Hariri tribunal: Guilty verdict over assassination of Lebanon ex-PM. en-GB. BBC News. 2021-01-23.
  11. Web site: Corporate profile: BankMed Financial Times. 2021-01-20. www.ft.com.
  12. Web site: 2015-01-22. Is Beirut's glitzy downtown redevelopment all that it seems?. 2021-01-23. the Guardian. en.
  13. Web site: Bankmed appoints ex-minister Hasan as CEO . 2021-02-04. www.dailystar.com.lb. 2021-01-30. https://web.archive.org/web/20210130222250/https://www.dailystar.com.lb/Business/Local/2020/Oct-12/512975-bankmed-appoints-ex-minister-hasan-as-ceo.ashx. dead.
  14. Web site: 2020-10-13. Raya el-Hassan, nouvelle présidente du conseil d'administration de BankMed. 2021-02-06. L'Orient-Le Jour.
  15. Web site: Oil trader to sue Lebanese bank connected to Hariri family for $1bn. 2021-02-06. Middle East Eye. en.
  16. Web site: Michel Accad Bankmed's Executive General Manager. 2021-02-23. BusinessNews.com.lb. en-US.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Bankmed".

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