Byblos Bank (Byblos) traces its roots back to 1950, when Victor and Fouad Ferneiné, Semaan and Youssef Melkan Bassil founded "Société Commerciale et Agricole Byblos Bassil Frères and Co". The company initially dealt with natural silk and leather tanning and carried out some lending activities related to the agricultural, commercial and transportation sectors. In 1961, the company's name was changed to "Société Bancaire Agri-cole Byblos Bassil Frères et Co". In 1963, the new name became Byblos Bank and was registered at the
Central Bank of LebanonCentral Bank of Lebanon
.
Byblos provides a list of services that include retail, corporate, private and correspondent banking. It also offers, through its subsidiaries, insurance, and investment services.
During the 1975 civil war in Lebanon, Byblos expanded internationally by establishing a sister bank in Brussels in 1976 as well as branches in Paris in 1980, London in 1981, and Cyprus in 1984. It focused on serving Lebanese and Arab clientele in addition to serving as correspondent banker for selected banks in some Middle Eastern countries.
In 1983, Byblos established
Adonis Insurance and Reinsurance Company (ADIR)Adonis Insurance and Reinsurance Company (ADIR)
. In December 1997, Byblos merged with Banque Beyrouth pour le Commerce. In 1998, Byblos Bank Europe was integrated into Byblos and in May of the same year, Byblos listed 30% of its outstanding shares on the
Beirut Stock ExchangeBeirut Stock Exchange
.
In May 2001, Byblos signed a partnership with Bancassurrance Group "Natexis Banque Populaire". The French Group acquired 34% of ADIR. Same year Byblos acquired Wedge Bank. Also in 2001, Byblos acquired the assets of ING BARINGS in Lebanon.
In March 2002, Byblos was granted a USD5 million credit line from
Saudi Fund for DevelopmentSaudi Fund for Development
(SFD). The same year, Byblos acquired the assets and liabilities of ABN AMRO Bank (Lebanon Branch).
In March 2003, Byblos issued USD100 million Preferred Shares and increased its capital to USD500 million. Also in 2003, Byblos opened a new Bank in Sudan,
Byblos Bank AfricaByblos Bank Africa
. In October 2003, Byblos established Byblos Invest Bank, which offers middle and long-term investment possibilities.
In 2005, Byblos established a subsidiary in Syria.
Byblos Bank SyriaByblos Bank Syria
became the sixth private bank to set up operations in Syria following legislation to reform and modernize the banking sector. In July 2006, Byblos received license approval from the
Central Bank of IraqCentral Bank of Iraq
and announced plans to launch a new branch in 2007.
In January 2006, Byblos announced that it will list all its shares in the
Beirut Stock ExchangeBeirut Stock Exchange
.