Top List of Banks in Lebanon
The history of the Lebanese banking system began in the 1860s. In the beginning, banking operations were mainly concerned with raising money from wealthy families by selling foreign bonds. Commercial banking activities started to be freely exercised in the mid 20th Century. However, before its collapse in 1975, the system showed signs of fragility due to its heavy concentration on investments/loans and relatively low capital adequacy levels. The Lebanese civil war had a profound effect on the entire strength of the banking system, as banks lost their confidence in each other's creditworthiness. Following new legislation to better regulate banks, efforts were made to improve their efficiency and long-term viability.
Here are some banks which rose through the ranks to make it in Lebanon.
Bank Audi is a prominent Lebanese bank founded in 1830. The bank serves its customer base through over 195 networked branches and 494 ATMs in Lebanon and overseas. Specializing in Corporate and Investment Banking, Private Banking, Asset Management, and Private Equity, Consumer Finance, Retail Banking (through BLOM BANK), and Treasury services.
It is the largest bank among private-sector financial institutions in Lebanon, in terms of customer deposits and total assets, with a deep-rooted presence. The Bank also enjoys an extensive network of subsidiaries, affiliates, and representative offices spanning 5 continents. Currently, it boasts of LPB 53.4 trillion of assets (USD 39 trillion)
BLOM Bank is one of the leading banks in Lebanon and has been committed to supporting Lebanon'sLebanon's growth and development since its establishment in 1951. BLOM Bank provides a wide range of banking services, including private banking, personal banking, business banking, corporate finance solutions, wealth management solutions, asset management solutions, and brokerage services in Beirut and abroad.
Blom Bank operates through a network of 77 branches spread across Lebanon, offering a wide range of products and services.
Total assets: LBP 44.88 trillion (USD 29 trillion)
Established in 1950, Byblos Bank is one of Lebanon's largest and oldest privately owned banks. It is currently present in ten countries and has 42 branches in Lebanon. Banks are equipped with state-of-the-art automated teller machines (ATMs) available at all working hours allowing customers to withdraw the needed cash at any time and place.
The Bank provides quality services to more than 1 million clients in Lebanon and worldwide with its vast international network. Total assets stand at LBP 28.40 trillion (USD 19 trillion)
Fransabank, one of the best banks in Lebanon, provides a full range of banking services to individuals and corporate clients. Fransabank's quality services and products are accredited by several international institutions. Fransabank offers corporate and retail banking products, private and investment banking services, and bancassurance.
Since its establishment in 1921, making it one of the oldest financial institutions in Lebanon. Fransabank has spread its wings, opening more than 127 branches across the country to serve its customers. Its total assets as of 2018 stand at LPB 35.59 trillion (USD 23 trillion)
Societe Generale de Banque au Liban (SGBL)
Founded in 1953, Societe Generale de Banque au Liban is one of the largest banks in Lebanon. It provides universal banking services, focusing on retail and commercial banking. Societe Generale de Banque au Liban offers a range of financial products and services to individuals, businesses, and financial institutions and operates through a network of over 70 branches.
The bank also manages a number of other financial service companies that specialize in lending, factoring, leasing, asset management, and brokerage. These include SGBL Capital for investment banking activities, SGBL Factoring for accounts receivable financing transactions, SGBL Leasing for equipment finance transactions, SGBL Asset Management for asset management services to individuals, institutional clients, and funds; SGBL Securities for securities brokerage activities; and Trust International Bank Sal, which acts as the trustee.
From a report in 2016, Societe Generale de Banque au Liban (SGBL) had assets worth LPB 28.67 trillion (USD 19 trillion)
Bank of Beirut
Bank of Beirut is a leading bank in the Middle East and Africa, offering online services, including payments, transfers, bancassurance, trade finance, and cash management. Bank of Beirut S.A.L. is a financial-banking institution operating according to the rules and instructions issued by Banque du Liban, the central bank of Lebanon, with a network of more than 62 branches locally and internationally.
It leads in providing commercial, corporate, private, investment, asset management, and retail banking in Lebanon and overseas through its expanding network of branches, subsidiaries, and representative offices. It has 72 branches spread all over Lebanese territory, with 24 branches outside the country. Its total assets as of 2020 were LBP 20.08 trillion (USD 13 trillion)
BANKMED, founded in 1944, is a pioneer and leader in the healthcare industry in Lebanon. Bankmed's unique services and competitive advantages place it at the forefront of the market. BankMed takes its place as a powerful player both in the local and regional markets. It is the banking partner of choice to both large corporations and individuals.
Currently operates a network of 56 branches and several ATMs across the country. It continues to expand locally with innovative financial services and sustainable solutions utilizing advanced technologies that provide customers with efficient, personalized, and intelligent services. It has assets worth LBP 23.41 trillion (USD 15 trillion)
Banque Libano-Francaise is a financial institution that maintains a network of branch offices in Lebanon. It also operates through branches in Switzerland, Dubai, and France. The bank provides various personal accounts, such as transaction accounts, demand deposits, savings accounts, and certificates of deposit. Additionally, it offers loans for real estate financing, commercial financing, car financing, and refinancing of used vehicles. Banque Libano-Française also provides services, including private banking and wealth management.
It manages 58 branches with 109 ATMs across Lebanon. The current asset of the bank stands at LBP 12.27 billion (USD 80 million)
Credit Libanais was established in 1961. Today, Credit Libanais is one of the leading banks in Lebanon, having a large local and regional network with almost 90 ATMs. Credit Libanais offers a full array of products and services to both corporate and retail customers, including financing, investment services, asset management, insurance products, and more distribution channels: Internet banking (Creditlib online), Mobile banking (mobile application "Connected") and credit cards. It has an asset of LBP 14.78 million.
IBL Bank was incorporated in 1961 from the merger of a number of small banks and has expanded to be one of the leading banks in Lebanon. The bank is listed on the Beirut Stock Exchange (BCSE) under the symbol IBL. It provides a variety of banking services, likeforeign trade, consumer credit, and labor funds. The bank's current asset is LBP 11.19 trillion(USD 73 billion)
Is there CitiBank in Lebanon?
CitiBank has its branch in Lebanon'sLebanon's capital and is regulated by the Central Bank Of Lebanon. The bank has a staff of 35 people, and it is open every day.