Not for distribution in any jurisdiction where the distribution or release would be unlawful.

EBRD INVESTS IN BANK AUDI, LAUNCHING ITS FIRST PROJECT IN LEBANON

15 Mar 2018
For immediate release – Beirut, Lebanon, 15 March 2018. The European Bank for Reconstruction and Development (EBRD) completed an equity investment today in Bank Audi sal, the largest banking group in Lebanon, which ranks among the leading regional banking institutions in the Middle East and North Africa (MENA). This marks the EBRD’s first-ever investment in Lebanon, and its first equity investment in a banking institution in the southern and eastern Mediterranean (SEMED) region.

The EBRD will acquire common ordinary shares of Bank Audi listed on the Beirut Stock Exchange, representing approximately 2.51 per cent of Bank Audi’s total common shares outstanding.

In making this investment, the EBRD is seeking to support the Lebanese financial markets and act as a catalyst to influence the broader economy in Lebanon, potentially playing a pivotal role in expanding and strengthening the financial sector.

Bank Audi is looking to consolidate and reinforce its leadership in Lebanon and market positioning across its core countries of operations, in particular in Egypt and Turkey.

Sir Suma Chakrabarti, President of the EBRD, said: “We are delighted to launch our activities in Lebanon, signing the first EBRD investment with a key regional player such as Bank Audi. The Lebanese financial sector is the backbone of the country’s economic stability and international reputation. Supporting Bank Audi’s operations and corporate governance is crucial in maintaining its resilience in the challenging environment in the region.”

Mr. Samir Hanna, Chairman and Group CEO of Bank Audi, said: “We are very pleased to deepen our strategic partnership with the EBRD, which has already been a key partner for us in recent years in our operations in Egypt and Turkey. This investment in Bank Audi helps send a positive signal on the growth potential of the local economy and represents a strong vote of confidence in the resilience of the Lebanese banking sector amid an unsettled regional environment. We believe there is a strong role to play for the EBRD in Lebanon and we look forward to working closely with the Bank as its activities develop in the country.”

Bank Audi is a longstanding partner of the EBRD, with investment supporting small and medium-sized enterprises, as well as trade in Bank Audi sae (Egypt) and in Odea Bank in Turkey, in which the EBRD has also invested in equity.

Lebanon became an EBRD economy of operations in September 2017, joining the Bank’s southern and eastern Mediterranean (SEMED) region, with Egypt, Jordan, Morocco and Tunisia, where the EBRD has been investing and engaged in policy reforms since 2012, as well as the West Bank and Gaza, since May 2017. To date, the Bank has invested over €6.5 billion in 170 projects across the SEMED region.

About the EBRD
The EBRD is a multilateral bank committed to the development of market-oriented economies and the promotion of private and entrepreneurial initiative in more than 38 economies, from Morocco to Mongolia and from Estonia to Egypt. The Bank is owned by 68 shareholders, including the EU and the EIB.

Stay connected:
www.ebrd.com
www.facebook.com/ebrdhq
www.instagram.com/ebrd_official
www.twitter.com/EBRD
www.youtube.com/user/ebrdtv

About Bank Audi sal
Bank Audi is a regional group with a universal banking profile. The Bank offers universal financial products and services including Corporate, Commercial, Individual and Retail, and Private Banking services, in addition to Capital Market activities and Factoring. As at end-December 2017, Bank Audi’s consolidated assets reached USD 43.8 billion, principally driven by private customers’ deposits of USD 33.5 billion, with shareholders’ equity reaching USD 4.2 billion. Bank Audi’s group staff headcount exceeds 6,500 employees and its shareholder base encompasses more than 1,500 holders of common shares and/or holders of Global Depositary Receipts (GDRs) representing common shares.

Bank Audi ranks first among Lebanese banking groups and is positioned in the inner circle of top regional banking groups. Its shares are listed on the Beirut Stock Exchange. Its GDRs are listed on both the Beirut Stock Exchange and the London Stock Exchange.

Stay connected:
www.bankaudigroup.com
http://facebook.com/BankAudiLebanon
http://youtube.com/BankAudiGroup
Investor Relations application

  
  


For more information:
Bank Audi:
Dr. Freddie C. Baz
Group Strategy Director
Tel: +961 1 977 477
Freddie.baz@bankaudi.com.lb



EBRD:
Mrs. Nibal Zgheib
Principal Communication Adviser – SEMED region
Tel: +44 207 3387753
zgheibN@ebrd.com



Arabic Version



© 2018 Bank Audi Group. All rights reserved | Audi Careers | About The Group | Contact us | Sitemap | Cookies Disclaimer | Privacy and Security