VOL. XLI
No. 48
30-November-1998
LEBANON
Lebanons Central Bank Approves Merger Of Three Banks
The Central Bank of Lebanon, which has been calling for theconsolidation of the countrys crowded banking sector, on 23 November approved themerger of three small banks al-Moughtareb Bank, Unibank and National Trust Bank.The newly formed bank, the United Bank of Lebanon (UBL), will be capitalized at $57mn and70% owned by the ARK Financial Group, with Lebanese businessman Muhammad Safadi holdingthe...
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!