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Lebanon Finance News

Dedicated to economic and business news on Lebanon, managed by the team of Lebanon Opportunities.

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Fransabank

EIB offers $303 million in credit lines to four banks. Funds target SMEs and mid-cap companies

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The European Investment Bank (EIB) has granted credit lines to four local banks with a combined value of 265 million euros ($303 million). The funds will be used to finance small and medium enterprises (SMEs) and mid-cap companies.

The benefi….
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BLC Bank shuts down investment subsidiary. To focus more on commercial banking

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BLC Bank, part of the Fransabank group, has shut down its investment subsidiary, BLC Invest.

The bank said in a statement that it is concentrating on commercial banking activities and for this reason, it has absorbed all of the assets and lia….
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Fransabank buys stake in Pinpay for $2.5 million. Bank to use the service

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Fransabank will invest $2.5 million in Pinpay, a local provider of mobile payment services, said a source close to the deal.

Under the deal, Fransabank will also be using Pinpay’s services for its customers. The bank will stop operating the….
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Four banks bidding for local HSBC branches. Fransabank, BLF, BLOM, and Audi have been prequalified

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Fransabank and BLF are among the banks seeking to acquire the local operations of HSBC, according to a source close to the deal.

BLOM Bank and Bank Audi are also competing for the deal. HSBC has prequalified four banks only.

The banks….
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IFC extends loan to Fransabank arm. To provide more environment friendly loans

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International Finance Corporation, member of the World Bank, signed a $7 million loan agreement with Fransabank subsidiary, the Lebanese Leasing Company (LLC).

The loan, supported by the Canadian Government, will be used in energy efficiency ….
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A $750 million Eurobond swap. To cover maturing debt in 2016

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The Ministry of Finance (MoF) has recently begun a swap operation of $750 million Eurobonds to mature on January 19, 2016. This measure is to cover a debt due for payment at the beginning of next year.

“The swap process is underway, but it’s ….
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A $750 million Eurobond swap. To cover maturing debt in 2016

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The Ministry of Finance (MoF) has recently begun a swap operation of $750 million Eurobonds to mature on January 19, 2016. This measure is to cover a debt due for payment at the beginning of next year.

“The swap process is underway, but it’s ….
Article details

Central Bank reserves stand at $39 billion. More stability of the monetary policy and currency, and more confidence in the banking sector

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The Central Bank (BDL) reserves in foreign currencies reached $38.8 billion at the end of the first half of 2015, up by around 15 percent from the same period last year, according to figures published by BDL. These reserves exceeded $39 billion in m….
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Central Bank prohibits instant money transfers. The BDL wants tighter control over the market

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The Central Bank (BDL) issued recently two intermediate circulars in order to organize money withdrawal and payment through electronic tools.

The first circular banned banking transactions through mobile or fixed tools among clients of differ….
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