Number of employees 1,799 Net income 175.7 million USD (2015) | Traded as BYB (BSE)BYB (LSE) Total assets 19 billion USD (2015) Founded 1950 Total equity 1.91 billion USD (2014) | |
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Founders François S. Bassil, Semaan Bassil, Youssef Melkan Bassil, Victor Fernainé, Fouad Fernainé Key people François Bassil(Chairman) | ||
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Byblos Bank (abbreviated as BYB) is a Lebanese bank established in 1963 and headquartered in Beirut, Lebanon. It is the country’s third largest bank by assets. In 2014, The Banker magazine listed Byblos Bank as having the highest Tier 1 capital to assets ratio among Lebanese banks for the fifth consecutive year, making it the country’s most solid bank. In 2013, the bank was ranked as the 134th company in the Arab world by Forbes. Byblos Bank held about 10% of system assets at end-2012, and is one of the Alpha banks in Lebanon, along with Bank Audi, BLOM Bank, and Fransabank, which are its main competitors. It currently operates 86 branches in Lebanon.
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History
Byblos Bank was initially founded in 1950 as “Société Commerciale et Agricole Byblos Bassil Frères & Co.”, a Lebanese company specialized in natural silk, leather tanning, and agricultural credit activities. In 1961, the company’s name was changed to “Société Bancaire Agricole Byblos Bassil Frères & Co.”, and in 1963 it was established as Byblos Bank S.A.L and registered at the newly established Banque du Liban.
The initial founders include Semaan Bassil, Youssef Melkan Bassil, Victor Fernainé and Fouad Fernainé, all hailing from powerful families based in the ancient Phoenician town of Byblos, north of Beirut. François S. Bassil, the current chairman, contributed to the establishment of Byblos Bank S.A.L in 1963.
International partnerships
Byblos Bank has established partnerships with several international entities including: the International Finance Corporation (IFC), which is the private sector arm of the World Bank Group, the Agence française de développement (AFD), which is a public institution providing development financing and its subsidiary, the Société de Promotion et Participation pour la Coopération Economique (PROPARCO). These institutions are among the Bank’s most notable shareholders. In 2009, Byblos Bank appointed The Bank of New York Mellon as depositary bank.
Listing and areas served
Byblos Bank is listed on the Beirut Stock Exchange (BYB) and became in 2009 the first Lebanese issuer to list in the London Stock Exchange for twelve years. It also actively operates in 11 countries in the Middle East, Europe, and Africa including: the United Kingdom, France, Belgium, Armenia, Cyprus, the United Arab Emirates, Syria, Iraq, Sudan, Nigeria, and the Democratic Republic of the Congo.