All of HSBC’s three branches, including the headquarters, will bear the logo of BLOM Bank. (The Daily Star/Mohammad Azakir)
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BLOM Bank, one of the two largest banks in Lebanon, has acquired HSBC operations in the country for more than $100 million.BLOM transferred to HSBC $122 million which includes the equities and assets of the bank.The source said that the net profits of HSBC in Lebanon are between $15 million to $20 million.All these profits will be incorporated into the consolidated net income of BLOM Bank in the future," the source said.He added that BLOM will keep all of the 200 HSBC staff in Lebanon.
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