No. 16



National Bank Of Canada Takes 15% Stake In Saradar Bank

The National Bank of Canada (NBC) announced on 7 April that it would acquire a 15% stake in Banque Saradar, one of Lebanons leading commercial banks. The acquisition is valued at $22mn and reflects the banks interest in expanding its operations in the Middle East. According to the banks chairman Andre Berard, "our new partnership with Banque Saradar positions us well to strengthen our presence in this...