Byblos Bank Headquarters, 12 March 2013

Byblos Bank is proud to announce the successful implementation of Oracle E-Business Suite Release 12.1 for Corporate General Ledger, Financial Management, Procurement Management, and Financial Reporting with the international Oracle implementer Wipro Limited. This achievement is the first phase of a 3-phased program, which will indeed place Byblos Bank among the first banks in the region in terms of data analysis, governance, and analytical reporting. With the new infrastructure put in place, Byblos Bank will benefit from a unified reporting platform with no data redundancy and manual input, less data reconciliation efforts, better data control, complete view of Bank wide financials and full audit trail from summary balances to individual transactions.

The 10-month implementation of the latest advanced Oracle financial applications establishes a corporate general ledger and serves as a single source of financial Byblos Bank data allowing reliable and timely generation of regulatory, statutory, and managerial reporting. It also enables Byblos Bank to optimally manage its fixed assets, monitor its expenditures and payments, optimize its procure-to-pay and inventory management activities.

Ziad Zoghbi, Head of Group Finance and Administration Division, said: "The successful implementation of Oracle E-business Suite is the first step in our strategic roadmap allowing Byblos Bank to become a model in data management and business intelligence reporting. This will also help our Management to have a broader and more insightful vision on operations and profitability, and therefore sustain future growth."

Mukund Seetharaman, Wipro Limited General Manager-Region Head, said: "We are happy to be associated with Byblos Bank in this strategic initiative. Implementing a complex project such as this would not have been possible without the strong support and vision of the Byblos Bank Executive Management. Today, the Oracle system with the Financial Accounting Hub represents one of the most advanced IT landscapes present in the banking industry. We are confident that this will give Byblos Bank a huge strategic advantage, reinforcing its position as one of the most forward-looking banks in Lebanon."

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For more information, please contact:
Byblos Bank's Press Office   
Group Communication Department
Tel: 01.335200 ext. 0325/0314
Email: joebassil@byblosbank.com.lb
rsassine@byblosbank.com.lb

© Press Release 2013