Standard Chartered has less than $100 million in deposits in Lebanon.
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The fate of Standard Chartered Bank's retail business in Lebanon is expected to be decided within a week after the remaining two bidders made their final offers, bankers said Tuesday.The binding offer made by FNB expired Monday evening, but Standard Chartered asked for additional time before making a final decision.Sources told The Daily Star that the offers submitted to Standard Chartered ranged between $17 million and $22 million.Any deal for the acquisition of Standard Chartered would still be subject to approval from Lebanon's Central Bank, whose Governor Riad Salameh, according to sources, prefers to cancel the license of Standard Chartered if it is acquired by an existing bank.Standard Chartered has deposits of less than $100 million and operates only three branches.
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