Financial and Banking News
Another Lebanese-owned Bank Fails in Paris
A third Lebanese bank based in Paris - Lebanese Arab Bank (LAB) - ran intotrouble last week, and the Banque de France has appointed a judicialadministrator to oversee the bank while it is being investigated. LAB, which hasbeen having problems for some time, is controlled by the Torbey family of Beirutwith a 25% direct stake. In addition a sister bank in Beirut (with the samename),...