History

Bank of Beirut was incorporated as a commercial bank on August 19, 1963, under the name of “Realty Business Bank S.A.L”. The Bank adopted its current name in 1970.
In late 1992, the Bank was acquired by a group of bankers and businessmen headed by the current Chairman-General Manager. In that year, the Bank had five branches and ranked thirty-five in terms of assets out of 71 banks operating then.

Since 1993, the Bank has expanded its operations through organic growth, strategic alliances with regional Arab banking institutions and acquisitions, with the aim of enhancing its market position while minimizing risks.

Today, Bank of Beirut is one of Lebanon’s leading commercial banks offering an extensive range of wholesale and retail banking services. The Bank has positioned itself in the local market as the provider of efficient banking services and competitive products, targeting mainly affluent individuals and SMEs, selective sizeable capital investment projects and local “prime” corporations.

The Bank’s primary activities consist of retail banking services, including consumer lending, deposits and savings plans, bancassurance products and cards; a wide range of commercial and corporate banking services, including a variety of credit facilities and lending to large corporations and SMEs; correspondent banking services; trade finance services, including letters of credit and letters of guarantee as well as treasury, capital markets and asset management activities. In 1997, the Bank was the first bank in Lebanon to launch asset management services targeting high net-worth customers in both domestic and regional markets.

The Bank operates in Lebanon through its network of 55 branches, 55 on-site ATMs and 13 off-site ATMs installed either at customers’ premises or in strategic non-bank locations such as commercial centers.

On the international level, the Bank provides commercial banking services in the United Kingdom and throughout Europe, through our wholly owned subsidiary, Bank of Beirut (U.K.) Ltd, regulated by the Financial Services Authority (“FSA”). The Bank also operates a branch in Germany (Frankfurt), a branch in Cyprus (Limassol) regulated by the Central Bank of Cyprus; 2 branches in the Sultanate of Oman (Muscat and Sohar) 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 Iraq (Baghdad), and a subsidiary in Australia with a network of fifteen (15) branches located in Sydney, Melbourne, and Adelaide, Beirut Hellenic Bank Ltd., regulated by the Australian Prudential Regulation Authority (“APRA”).

Significant Key dates

1963    Incorporation of the Bank under the name of “Realty Business Bank SAL” 1980  The Bank was renamed to “Bank of Beirut SAL” 1993    The Bank was acquired by the current controlling group headed by Mr. Salim Sfeir 1994  Acquisition of the branch network of “Banque Libano-Bresilienne SAL” (4 branches) 1997    Listing on the Beirut Stock Exchange Strategic alliance with Emirates Bank NBD (acquiring 10% stake in Bank of Beirut capital) 1998  Acquisition of the branch network of “Mebco Bank SAL” (5 branches)  Acquisition of “Beirut Broker Company SARL” (insurance brokerage company) 1999    Acquisition of “Transorient Bank SAL” (medium-size Lebanese bank) 2001  Establishment of a Representative Office in Dubai - UAE 2002    Opening of a branch in Limassol – Cyprus (regulated by the Central Bank of Cyprus)  Acquisition of “Beirut Riyadh Bank SAL” (medium-size Lebanese bank)  Establishment of “Bank of Beirut (UK) Ltd.”, fully owned subsidiary in the United Kingdom  Issuance of US$ 55.0 million cumulative convertible callable preferred shares (series “A”) 2003  Issuance of US$ 34.5 million cumulative convertible callable preferred shares (Series B”) 2004    Establishment of a Representative Office in Lagos - Nigeria 2005  Incorporation of “BOB Finance SAL” (wholly-owned financial institution regulated by the Central Bank of Lebanon)  Issuance of US$ 73.0 million non-cumulative perpetual redeemable preferred shares (Series “C”) 2006  Acquisition by Bank of Beirut (UK) Ltd. of the private banking portfolio of Scotia Bank in the United Kingdom  Establishment of a Representative Office in Baghdad – Iraq  Establishment of a branch in Muscat – Sultanate of Oman 2007  Issuance of US$ 100.0 million non-cumulative, perpetual, redeemable preferred shares  Incorporation of “Bank of Beirut Invest SAL”  (wholly owned Investment Bank regulated by the Central Bank of Lebanon) 2008  Acquisition of the branch network of Al-Madina Bank SAL (11 branches)  Establishment of a branch in Sohar – Sultanate of Oman  Issuance of US$ 75.0 million non-cumulative, perpetual, redeemable preferred shares 2009  Appointment of the Bank as Agent of Western Union in Lebanon  Establishment by Bank of Beirut (UK) Ltd. of a branch in Frankfurt – Germany  Private placement by issuing US$ 101 million new common shares at market price 2010  Acquisition of ALIG Life SAL (insurance company), renamed to “Beirut Life SAL” Issuance of US$ 110.250 million non-cumulative, perpetual, redeemable, convertible preferred shares (in process) 2011  Acquisition of 92.5% of the shares of Laiki Bank (Australia) Ltd.

Mission

Bank of Beirut’s Mission is to be a universal financial institution endeavoring to serve the broadest range of clients by offering them the full array of first class and personalized banking services and products.

• Domestically, the Bank intends to continue to increase its market shares by enlarging its delivery channels network and providing its customers with all types of innovative services and products.

• In foreign markets, the Bank intends to further strengthen the building of its commercial and correspondent banking activities with an emphasis on the MENA region and the Lebanese diaspora while using the London subsidiary as a European hub.

Vision
Create a better future for every individual and corporation in Beirut and beyond.

Values

• Shareholders’ Fulfillment: to provide our shareholders with an adequate return on their investment while minimizing risks.
• Customer Satisfaction: to always strive to anticipate and fulfill our customers’ needs and build lasting relationships with them.
• Employee Satisfaction: to ensure our staff an agreeable working environment and professional development opportunities.
• Integrity and Trust: to conduct the transactions of all our shareholders in strictest confidence and with the highest ethical standards.