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   World Finance announces Banque Misr Liban the best commercial Bank in Lebanon for 2012

The British “WORLD FINANCE” offered Banque Misr Liban the best commercial bank award for 2012, in recognition of the outstanding progress the bank was able to achieve, in addition to the most sophisticated products and services it delivers. WORLD FINANCE is the publisher of WORLD FINANCE magazine issued in London with a special focus on financial and economic aspects worldwide. The magazine delivers a series of annual banking awards since 2007.  

The award came as recognition to the bank’s new management’s efforts demonstrated since 2007, aiming to expand and develop its activities, resulting in positioning BML at the forefront of the banking sector. The development process comprised a comprehensive internal restructuring plan, which includes the upgrading of BML services, increasing the number of branches, creating a full range of competitive products and services and adopting the service excellence approach on all levels. Moreover, the increase of BML capital, has contributed to the potential growth in the bank’s business volume.          

The outcome of the development plan was obvious. The total bank assets have increased by 107% between 2007 and 2011, while deposits have increased also at the same percentage, and the loans have jumped by 138% for the same period. Worth noting that these increasing percentages are regarded to be the highest achieved in the Lebanese banking sector. The shareholders’ equity has also increased by 163% due to capital raise and undistributed profits.        

BML was established in 1929, and is one of the oldest banks in Lebanon. The bank is positioned third in terms of Lebanese banks registry. After the country’s independence and for 40 years, the bank has vastly expanded to be one of the largest banks in Lebanon, with a widely spread network of branches and various types of customers including companies, large institutions, individuals, and investors domestically and abroad. The branches expansion plan was designed meticulously to launch new branches in major cities and areas all over the country.

Banque Misr, one of the largest Arab banks with assets exceed 30 million US$ in 2011, owns 92.4% of BML shares. This makes BML the only commercial bank in Lebanon to be owned and backed by a major financial Arab institution.  BML is a key element of BM’s global branches in UAE, France Germany and England.