Lebanon might be a third world country but it really does possess some infamous perks that no other Arab speaking country has. Furthermore, its banking system is definitely one of those perks.
In 2017, as the value of the Lebanese banking sector’s assets reached USD 227 billion, the banks gained the trust of locals and internationals alike. Moreover, in 2018, a total of nine Lebanese banks were featured in the Top 1000 World Banks data collection.
The following banks are recognized as the top banking institutions in the whole country:
First established in the 1950s, BLOM Bank soon rose to be one of Lebanon’s biggest banks. It has almost USD 49.06 billion value of assets along with a USD 731.55 million net income (2017). The bank operates through a wide variety of segments which include Private Banking, Commercial Banking, Corporate Banking, Investment Banking, Retail Banking, Islamic Banking, Capital Market Services, Asset and Wealth Management, and Insurance Products and Services.
With a headquarter located in Beirut, BLOM bank oversees a huge network that consists of 77 branches in Lebanon, 15 branches in Cyprus/Jordan, two branches in Iraq, and a representative office in Abu Dhabi.
Moreover, the bank offers a full range of banking products and services to its clients that includes anything the clients ought to desire.
Established in the 1830s and then incorporated in its current form in 1962, bank Audi is one of the most reliable banks in Lebanon. Moreover, taking customers’ deposits, shareholders’ equity, loans, and advances into account, this bank is also one of the largest ones in the country.
With a 1.51 billion USD revenue, a 559 million USD net income, and 43.75 billion USD worth of total assets (2017), bank Audi offers a diversified range of financial products and services. They also specialize in personal banking, business banking, and private banking segments.
Furthermore, not only does this institute operate in 11 countries through three financial companies and 10 banks, but it also has 204 branches, 474 ATMs, and 35 ITMs disputed all over them.
Fransabank is one of the oldest banks in the country which was established in 1921. First, it was a branch of Credit Foncier d’Algerie de Tunisie, the bank, then the bank merged with numerous other Lebanese banks to become one of Lebanon’s best banks.
Moreover, the bank has a 1.63 trillion LBP revenue, a 302.94 billion net income, and a total of 31.44 trillion LBP worth of total assets. It also has expanded and consolidated its presence in eight countries which include Lebanon, France, Algeria, Sudan, Belarus, Iraq, UAE (Abu Dhabi), and in Ivory Coast.
Furthermore, The bank provides a wide variety of services such as retail banking, corporate banking, and investment, and private banking services.
Bank of Beirut
Founded in 1963 as Realty Business Bank S.A.L, the bank then changed into a commercial bank while also changing its name to the current one. With a 201.37 million USD net income and 17.21 billion USD worth of total assets, the bank takes pride in its top tier banking system. They offer a very wide range of services that include consumer banking, commercial banking, corporate banking, correspondent banking, asset management, and capital market services. Moreover, they specialize in both domestic and regional markets.
The bank has a total of 70 branches spread across Lebanon along with 24 branches in other countries, as well as representative offices in Nigeria, Ghana, and the UAE (Dubai). In addition to the traditional branch setup. Furthermore, they supervise Smart and Hybrid Branches along with other Satellite Branches.
Headquartered in the capital, Byblos bank is the third-largest bank by assets which are almost worth 34.16 trillion LBP. The bank was first established during 1963 in Jbeil then it was restated in Beirut.
With a 256.45 billion LBP net income and 1.7 trillion LBP revenue, the bank manages several branches in Lebanon and in nine other locations abroad. These locations include the United Kingdom, France, Belgium, Armenia, Cyprus, the United Arab Emirates, Iraq, and Nigeria.
First established in 1961, Credit Libanais rose to become one of the pioneers in Lebanese banking technology. The bank was one of the first to launch ATM services, payment platforms, POS technologies, and internet banking innovations.
Moreover, this bank is specialized in retail banking, corporate banking, and electronic banking. With an 853 billion LBP revenue, 106.94 billion LBP net income, and a total of assets with 16.07 trillion LBP worth, the bank is well known for its amazing customer service.
Furthermore, this institute doesn’t only have several branches spread across the Lebanese territory but it also has active branches present in Bahrain, Cyprus, Iraq, Senegal, and Canada.
The bank was founded in 1961 as Development Bank SAL, but soon it changed into IBL Bank during 2008. With 582.04 billion LBP revenue, 121.14 billion LBP net income, and 10.21 trillion LBP with total assets, the bank offers a wide variety of exceptional services.
Headquartered in Lebanon’s capital Beirut, the main branch oversees as well as supervises a total of 20 active branches across the country,along with three branches in Iraq and another one in Cyprus.
Also known as the Banque de la Méditerranée S.A.L., Bankmed offers a wide variety of financial products and services to individual and business customers in Lebanon. Moreover, with more than 2,658 employees, the institute operates a huge network that consists of 65 local branches, 131 local ATMs, five overseas branches, and five banking subsidiaries.
Furthermore, the bank was first founded in 1944 and has a revenue of 1.09 trillion LBP, a net income that consists of 176.82 billion LBP, and 22.71 trillion LBP worth in total assets.
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Corporate Finance Institute. (2018, September 6). Top Banks in Lebanon. https://corporatefinanceinstitute.com/resources/careers/companies/top-banks-in-lebanon/
Editor GBAF. (2018, December 7). List of Banks in Lebanon. Global Banking & Finance Review. https://www.globalbankingandfinance.com/list-of-banks-in-lebanon/
List of Banks in Lebanon: All Lebanese Banks in Lebanon Beirut Lebanon Bankers. (2019). Banking Control Commission of Lebanon. http://www.bccl.gov.lb/publications/lebanese-bank-list/
Top Banks in Lebanon. (2019, October 26). List of All Banks. https://listofallbanks.com/top-banks-in-lebanon/