Bank of Beirut
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History
History

With a well-targeted focus, Bank of Beirut has not only grown to become one of today’s leading commercial banks in Lebanon, but has also proved to be the pioneer in more than one field. After taking the lead in“Super Affluent Net-Worth Specific Services in Lebanon” according to Euro money Private Banking and Wealth Management Survey; and receiving Zawya Funds Ranking Award for its “Beirut Golden Income Fund II and winning the “Best CSR Initiative”, Bank of Beirut was recognized in 2014 as the “Fastest Growing Banking Lebanon” by “Banker Middle East” magazine. 2015 brought the Bank further recognitions: Bank of Beirut was recognized by Banker ME as “Best Transaction Bank in the Levant” and “Best Commercial Bank in Lebanon” and its Chairman-CEO was voted “Banker for the year 2015 and 2016 in the MENA Region”.


Bank of Beirut adopted its present name in 1970,7 years following its establishment as a commercial bank. In 1993, the 5-branchBank was acquired by a group of businessmen and bankers, headed by the current Chairman - CEO, Salim G. Sfeir. Its strategic alliances with regional Arab banking institutions and acquisitions have enhanced its market position and leveraged its expertise into local and regional markets. Bank of Beirut, rating35th bank in Lebanon in 1993, and one of Lebanon’s five banks listed on the Beirut Stock Exchange since 1997, has climbed up to reach the 3rd position by equity, 3rd by profits, and 6th by assets, with 70 branches in Lebanon and 24spanning 4 continents.

In 2005, Bank of Beirut established “BOB Finance s.a.l.”, a wholly owned financial institution regulated by the Central Bank of Lebanon; in 2007, Bank of Beirut Invest s.a.l., an independent wholly owned specialized banking subsidiary, was created; in 2009, BoB Finance was appointed one of two exclusive Agents of Western Union in Lebanon; and in 2011, “Beirut Life Co.”, an insurance company offering a full array of life insurance services, was initiated. In 2012, the new (corporate identity and logo)reflecting the restyled brand image were adopted, and in 2013, B-Smart, the first virtual branch, opened its doors. In 2014, the Bank initiated a new representative office in Accra, Ghana.
The primary activities of Bank of Beirut include retail banking services; commercial, corporate and correspondent banking services; as well as trade finance and asset management services targeting high net-worth customers in both domestic and regional markets. Acknowledged in the list of the “Fastest Movers” banks worldwide, Bank of Beirut is the leading provider of cash management services to commercial clients in Lebanon.

On the international level, Bank of Beirut provides commercial banking services in the United Kingdom and throughout Europe through its wholly owned subsidiary, Bank of Beirut (U.K.) Ltd,regulated by the Financial Conduct Authority (FCA). The Bank also operates a branch in Germany (Frankfurt); a branch in Cyprus (Limassol) regulated by the Central Bank of Cyprus; 5 branches in the Sultanate of Oman, regulated by the Central Bank of Oman; a representative office in the United Arab Emirates (Dubai) to service the Gulf region; a representative office in Nigeria (Lagos) and a representative office in Ghana(Accra), in addition to a subsidiary in Australia, Bank of Sydney LTD. with a network of 16 branches located in Sydney, Melbourne, and Adelaide, regulated by the Australian Prudential Regulatory Authority (“APRA”).

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Bank of Beirut – List of Bank: 75 | Online banking services licensed by virtue of BDL letter number 11/629 dated October 2, 2008.
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