Byblos Bank Explained

Byblos Bank
Type:Société anonyme libanaise
Traded As:BYB (BSE)
BYB (LSE)
Industry:Banking, Financial services
Founders:Semaan Melkan Bassil, Youssef Melkan Bassil, Victor Fernainé, Fouad Fernainé
Location City:Byblos Bank building
Elias Sarkis Avenue
Beirut
Location Country:Lebanon
Key People:Semaan Bassil
(Chairman and General Manager) [1]
Area Served:Africa, Europe, Middle-East
Products:Consumer banking, Commercial banking, Correspondent banking, Capital markets
Net Income: US$ 170.1 million (2017)[2]
Equity:[3]
Num Employees:2,524 (2016)[4]
Subsid:
  • Byblos Bank Europe
  • Byblos Bank Armenia
  • Byblos Bank Syria
  • ADIR Insurance and Reinsurance

Byblos Bank is a Lebanese bank established in 1963 and headquartered in Beirut, Lebanon. It is the country’s third largest bank by assets.[5] It is one of the Alpha banks in Lebanon, along with Banque Libano-Française S.A.L., Bank Audi, BLOM Bank, and Fransabank,[6] which are its main competitors. As at 31 July 2018, it operates 88 branches in Lebanon.[7]

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.[8] 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.[9]

The initial founders include Semaan Melkan 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.[10] François Bassil, the current Chairman of Byblos Bank Group, contributed to the establishment of Byblos Bank S.A.L in 1963.[11]

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,[12] 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).[13] These institutions are among the Bank’s most notable shareholders. In 2009, Byblos Bank appointed The Bank of New York Mellon as a depositary bank.[14]

Listing and areas served

Byblos Bank is listed on the Beirut Stock Exchange[15] and became in 2009 the first Lebanese issuer to be listed on the London Stock Exchange.[16] It also actively operates in 9 countries in the Middle East, Europe, and Africa: the United Kingdom, France, Belgium, Syria, Armenia, Cyprus, the United Arab Emirates, Iraq, and Nigeria.[17] [18] [19]

See also

Notes and References

  1. Web site: François Bassil, Semaan Bassil take new Byblos roles. The Daily Star. 12 January 2018.
  2. News: Byblos Bank confirms its solid financial position at end 2017 . 28 August 2018 . Zawya.
  3. Web site: Annual Report 2017 . ByblosBank.com . 28 August 2018.
  4. Web site: Chalu. Philippe. Semaan Bassil, PDG de la Byblos Bank. Le Commerce du Levant. 30 September 2016 . 12 January 2018.
  5. News: Fitch Affirms Byblos Bank at 'B'; Outlook Stable. 19 August 2014. Reuters. 1. 29 September 2015. https://web.archive.org/web/20150929001931/http://www.reuters.com/article/2013/05/13/fitch-affirms-byblos-bank-at-b-outlook-s-idUSFit65749620130513. live.
  6. Web site: Top Banks in Lebanon. Marcopolis. 8 October 2014. 4.
  7. Web site: Annual Report 2017 . ByblosBank.com . 10 August 2018.
  8. Web site: Byblos Bank. Down Town Beirut - Directory. 6 November 2014.
  9. Web site: The Byblos Bank Story. ByblosBank.com. Byblos Bank Group. 6 November 2014. https://web.archive.org/web/20170713055025/http://www.byblosbank.com.lb/Global-The-Byblos-Bank-Story. 13 July 2017. dead.
  10. Web site: Banks Lebanon. Ostamyy. 6 November 2014. https://web.archive.org/web/20140328064540/http://www.ostamyy.com/banks/Lebanon.htm. 28 March 2014. dead.
  11. Web site: BYBLOS BANK SAL (BYB) . Market Screener . 10 August 2018.
  12. Web site: IFC Byblos Bank Investment to Increase Access to Finance for Small and Medium Enterprises. IFC.org. 7 October 2014. 6.
  13. Web site: Soutenir une banque libanaise dans sa stratégie de développement international. Proparco.fr. 13 October 2014. 7.
  14. Web site: The Bank of New York Mellon Appointed as Depositary Bank by Byblos Bank S.A.L.. BNY Mellon. 3 November 2014. 12. https://web.archive.org/web/20141103094834/http://news.bnymellon.com/index.php?s=20295&item=127213. 3 November 2014. dead.
  15. Web site: Byblos Bank (BYB) . https://archive.today/20141030134512/http://www.bse.com.lb/Market/HistoricalData/HistoricalData/tabid/90/SearchByCode/0/Default.aspx . dead . 30 October 2014 . Beirut Stock Exchange . 13 October 2014 . 9 .
  16. Web site: The London Stock Exchange is delighted to welcome Byblos Bank sal to the Main Market . London Stock Exchange . 13 October 2014 . 10 . dead . https://web.archive.org/web/20140714034815/http://www.londonstockexchange.com/companies-and-advisors/news-events/welcome/19-02-09-byblos-bank.htm . 14 July 2014 .
  17. Web site: ILLUSTRIOUS BANKING. The Business Year. 10 October 2016. https://web.archive.org/web/20190420181625/https://www.thebusinessyear.com/lebanon-2012/illustrious-banking/interview. 20 April 2019. dead.
  18. Web site: Byblos Bank Releases Financial Results for First Half of 2017. Byblos Bank. 30 May 2018.
  19. Web site: Byblos Bank cherche à se retirer de la RDCongo . Le Commerce du Levant . 28 June 2018 . 10 August 2018.

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