The Credit Libanais Bank in Beirut. (The Daily Star/Hasan Shaaban)
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Credit Libanais' decision to move its headquarters to a new $120 million smart building in Adlieh signals the bank's long-term goal of cementing its presence in Lebanon while continuing expansion abroad in promising markets such as Africa, the bank's chairman says.Built over an area of 6,000 square meters, the 32-floor glass tower was constructed to act as a nerve center for branches and operations in Lebanon and abroad.Speaking from his new office with a panoramic view of the capital, Torbey said the new location has enabled the bank to reduce administrative expenses by more than $2 million a year. Torbey stressed that the bank would move to any country that has potential, and above all political and security stability.As for the possibility of acquiring another bank in Lebanon, he said Credit Libanais would only make such a move if the conditions were ripe and the price was reasonable. Credit Libanais is one of the largest banks in Lebanon in terms of assets and customer deposits.
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