From left, Fadi Assali, Raed Khoury and Christos Papadopoulos. (The Daily Star/Mohammad Azakir)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Cedrus Bank announced Tuesday that it will raise its equity to $60 million after Cedrus Invest Bank completed the acquisition of Standard Chartered Bank in Lebanon.Cedrus Invest Bank is a Beirut-based wealth management provider and the majority shareholder in Cedrus Bank, with an 85 percent stake. Cedrus Invest Bank is the first investment bank in Lebanon to acquire a commercial license, Assali said, before outlining the bank's expansion plans.He explained that Cedrus Bank aims to extend fully fledged retail and corporate banking products and services across the Lebanese market through a separate new entity, while capitalizing on the private banking culture of Cedrus Invest Bank. Assali's comments were echoed by Raed Khoury, chairman of Cedrus Invest Bank, who said that this acquisition would allow Cedrus Bank to reach all categories of Lebanese society, including the middle- and low-income classes.
Hajj Hasan says Syria trip aims to boost trade
BLOM boss: Don’t overload Central Bank
Economists urge government to reduce deficit
FOLLOW THIS ARTICLE