VOL. XLII

No. 13

29-MARCH-1999

LEBANON

BCP Oriel Bank To Merge With Intercontinental Bank

Continuing the trend of consolidation that has been steadilygaining momentum in Lebanon, BCP Oriel Bank and Intercontinental Bank haveannounced their intention to merge into a single entity and form a bank with atotal market capitalization of $19mn. The merger is still subject to approvalfrom shareholders, the banks board of directors and Lebanons Central Bank,but the new bank will have nine branches,...