VOL. XLI

No. 03

19-January-1998

LEBANON

Banque Audi Buys Adcom And Credit De L'Orient

At MEES press time local newspapers reported that Banque Audi, one of theleading banks in Lebanon, had bought 12 branches of the hitherto little known Bank Adcom(Advances and Commerce Bank). The news means that Audi has completed its third acquisitionin the last six months and brings its branch network to 49, behind Byblos Bank (52) butovertaking Credit Libanais (45). The value of the transaction was not...