The Byblos Bank Group, Lebanon’s third largest financial group, started the year 2006 with decisions to list all its shares and increase its capital by a massive amount, right on the heels of a $164.8 million rights issue by which the bank doubled its share capital to $329.6 million in the last quarter of 2005. EXECUTIVE inquired with Semaan Bassil, vice-chairman and general manager, about the latest strategy moves of Byblos Bank, whose new joint venture subsidiary in Syria also started full operations last month. E After increasing its capital not long ago, Byblos Bank is preparing for a full listing of its shares on the Beirut Stock Exchange and is also considering a further capital increase. Could you outline the development of Byblos Bank’s new relationship to investors and the Lebanese stock market? In the past, Byblos was mainly focusing on building its business in Lebanon and the region
