Investing in compliance resources, systems has become vital to operate across borders.
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The Daily Star interviewed the General Manager and Chairman of Byblos Bank Semaan Bassil on the performance of the bank and the future plans of lender.Q: Byblos Bank, as is the case with major banks in Lebanon, counts on organic and nonorganic growth.Looking at opportunities to acquire banks locally or overseas has always been part of the Byblos Bank's growth strategy. In fact, the bank acquired in the past either branches, subsidiaries, assets or loan portfolios of foreign banks in Lebanon, including Unicredit Banca di Roma, ABN AMRO Bank N.V., ING Barings and Bank of Nova Scotia. In addition, we acquired two Lebanese banks: Wedge Bank Middle East and Banque Beyrouth pour le Commerce and we recently added Banque Pharaon & Chiha – Lebanon's oldest bank, established in 1876 – to this list. Q: Banks are becoming more competitive and the market here is considered relatively small.
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