Lebanons Societe Generale Libano Europeene De Banque Buys 84% Of Inaash Bank
Lebanons Societe General Libano-Europeene de Banque (SGLEB) on 31 July purchased around 84% of Beiruts Inaash Bank for around $50mn. SGLEB will acquire Inaashs 300 employees and 20 branches. According to banking sources familiar with the deal, SGLEB took over management of the bank after the Central Bank of Lebanon (CBL) sold its 84% stake. This stake was taken over in July from...