Banking on change

“It was a very frustrating year in terms of investment banking. we had a few successful stories in raising capital for companies but nothing where the core business was in Lebanon. [the way] for people like us to survive is to use Beirut as a base but to do deals or invest in markets outside” Jean Riachi, chairman and CEO, FFA Private Bank “We are making profits but we are not able to make large profits such as those we would expect in a flourishing economic situation. times are tough but we are fighting, we are working around the clock, our numbers are good. We have witnessed a serious development of the bank” Hadi Naffi, executive general manager, Banque Misr Liban “On a pure financial side one of the disappointments this year is the increase in the government deficit. we have witnessed an increase in expenditures in the government, at