May 17 2010 |
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Bank of Beirut s.a.l. Unveils its New Housing Loan in LBP
Bank of Beirut , May 17, 2010 - Keen to offer the most innovative banking products to serve the community where it operates, Bank of Beirut launched its new 4.2% housing loan in Lebanese pounds.Mr. Antoine Chamoun, General Manager of "Bank of Beirut Invest s.a.l.", underlined the competitive features of the new Housing Loan, subsidized by the Central Bank. He highlighted that this product enables Lebanese residents and expatriates who are seeking to acquire a new home with the HIGHEST financing, the LOWEST interest rate, the LONGEST payment period, and the SMALLEST installment, to benefit from the best financing solution available on the market.
With its 4.2% rate, Bank of Beirut new housing loan offers the lowest interest in the Lebanese market. The borrower will also have the chance to stretch his installments over a 30-year period and benefit from a grace period ranging from 6 to 48 months. Applicants are exempt from file fees as well. As for the loan amount, it is unlimited and Bank of Beirut finances 85% of the house value.
Once more,
Bank of Beirut
proves to be at the forefront of innovation.
- Ends -
About
Bank of Beirut
s.a.l.
Incorporated in 1963 in Beirut, Lebanon,
Bank of Beirut
s.a.l. is one of Lebanon's leading banks ranking 7th in terms of total assets and 6th in terms of profitability. The Bank offers a full range of banking services through an extensive network of 46 branches in Lebanon, and a network of foreign entities: a branch in Limassol - Cyprus, 2 branches in Muscat and Sohar- Sultanate of Oman, a branch in Frankfurt - Germany, a wholly owned subsidiary in London - United Kingdom (
Bank of Beirut
(UK) Ltd) and three Representative Offices located in Dubai - UAE, Lagos - Nigeria and Bagdad - Iraq. In addition,
Bank of Beirut
operates a wholly-owned Financial Institution (BoB Finance s.a.l.) and an insurance brokerage firm (Beirut Brokers s.a.r.l.) and an independent investment bank, (Bank of Beirut Invest s.a.l.).
Since 1997, the Bank embarked on an aggressive expansion plan, aiming at enhancing its market position. This was achieved through a number of transactions ranging from private placements and issuance of Preferred Shares, to entering into strategic alliances with regional Arab banking institutions, and acquiring other banking competitors, namely Transorient Bank s.a.l. in late 1998, and Beirut Riyad Bank s.a.l. in June 2002.
For more information contact:
Ingrid Sfeir
Head of Media Relations
Bank of Beirut
S.A.L.
Phone: 01/738767 - ext 227
Email: isfeir@bankofbeirut.com
© Press Release 2010
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