VOL. XLI

No. 22

1-June-1998

LEBANON

Fransabank To Raise Capital To $89Mn

Lebanon's Fransabank is to raise its capital to LL135bn ($89mn) from LL90bn ($59mn),according to a recent decision by the bank's general assembly. The decision still needsthe approval of the Central Bank of Lebanon. The capital will be raised from reserves andprofits. Net profits in 1997 doubled to $41mn from $27mn in 1996 and the bank intends todistribute 17% of the 1997 profits as dividends. Last September Fransabank...