SGBL is one of the largest banks in Lebanon. (The Daily Star/Mahmoud Kheir)
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SGBL, one of the largest banks in Lebanon, expanded to Europe with an initial agreement to acquire a private bank in France, a statement by the bank said.The bank did not disclose the value of the acquisition.The acquisition by SGBL of KBL Richelieu and KBL Monaco is expected to be finalized in the first half of 2018, subject to the approval of the competent regulatory authorities.It employs over 2,000 staff and manages some 18 billion euros in assets.It added that over the past three years, KBL epb has successfully executed five acquisitions, strengthening its presence in its core markets.
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