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banking

Feb 15

Lebanese banks will keep offering loans: ABL chief

Head of the Association of Banks in Lebanon Joseph Torbey reaffirmed that the lenders will continue to offer private-sector loans, after a meeting Tuesday with President Michel Aoun. “We have visited the president in the framework of the association’s meetings with other officials. Our discussions focused on political and security stability in Lebanon. We also renewed our commitment to the development of the economy,” Torbey told reporters. He said the meeting with the president also touched on U.S. sanctions on some......

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Feb 15

SGBL turns to Backbase for digital banking revamp

Lebanon-based Société Générale de Banque au Liban (SGBL) has chosen Backbase for a revamp of its front-end banking solutions. SGBL will replace its legacy internet and mobile banking systems with Backbase’s omnichannel digital banking platform. Roll-out has begun in Lebanon, and the first go-live happened in December 2017 for domestic internet and mobile banking, with a further regional roll-out planned for subsidiaries in Jordan, Cyprus and the UAE. Antoun Sehnaoui, chairman and CEO of SGBL, says Backbase......

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Feb 14

Aoun Says 'Keep Backing Middle Class' as Housing Bank Toughens Terms

President Michel Aoun on Tuesday urged banks to continue to offer loans aimed at propping up the country's middle class, after Banque de L'Habitat (housing bank) toughened its lending terms.

Aoun voiced"...

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Feb 14

Fiorano Contributes to Kenya’s Digital Leap with I&M Bank

Fiorano Contributes to Kenya’s Digital Leap with I&M Bank

(AETOS Wire) -- Fiorano Software announced today that I&M Bank, Kenya has chosen the Fiorano platform to achieve digital transformation to reduce time-to-market while integrating its Finacle, Core Banking System. I&M Bank’s need for digital transformation arose from its new strategy aimed at giving each market segment a customized proposition to complement their lifestyle and financial requirements. The use of multiple point-to-point connections was impeding this goal due to its rigidity, high maintenance and management costs. “Fiorano has made our digital journey easy and cost effective,' said Rohit Gupta, Group CIO,......

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Feb 07

Lebanon's banking sector grew by 7.6% in 2017

Lebanese banks saw a 7.6 percent growth in 2017 compared to 2016, Bank Audi statistics said. “The sector had to face the repercussions of the short-lived political crisis in November, which had yielded some"...

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Feb 07

Fiorano Powers Banco Postal’s Commitment Towards Financial Inclusion and Digitalization of Angolan Economy

Fiorano Powers Banco Postal’s Commitment Towards Financial Inclusion and Digitalization of Angolan Economy

(AETOS Wire) -- Fiorano Software announced today that Banco Postal, Angola has successfully implemented the Fiorano Platform to tackle integration challenges in its digital transformation journey. Banco Postal opted for Fiorano for its native integration with T24, the Core Banking System from Temenos. Marcelo Barreto, Head of IT, Banco Postal said, “Banco Postal is built on a strong commitment for financial inclusion in Angola. Having such an innovative approach to banking, the technical challenges were one of the biggest constraints to the success of such implementation. Fiorano enabled us to swiftly tackle these restrictions, removing......

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Feb 03

Banque du Liban to set new ceiling for housing loans

Central Bank Governor Riad Salameh is expected to post a circular on Banque du Liban’s website Friday setting new ceilings on bank housing loans, sources said Thursday. “It seems that Salameh may hike the interest rates on bank housing loans by 50 basis points (half a percentage point),” one source told The Daily Star. It is not clear yet why the governor has decided to hike the interest rate on housing loans. But sources had their own justification for BDL’s move. “It is only natural that the interest......

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Feb 03

QNB Most Valuable Banking Brand in Middle East and Africa with a Value of US $4.2bn

QNB Most Valuable Banking Brand in Middle East and Africa with a Value of US $4.2bn

QNB Group, the largest financial institution in the Middle East and Africa, was recognized once again as the most valuable banking brand in the Middle East and Africa region with brand value worth US $4.2bn, according"...

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Jan 31

Lebanon's Byblos Bank profits up close to 3% in 2017

Byblos Bank announced Monday that its net profits at the end of 2017 had increased by 2.91 percent on 2016 to reach $170 million.

“Net profit stood at $170 million, slightly higher than the $165"...

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Jan 30

Bank of Beirut presents its products at Ministry of Transport and Communications

The Ministry of Transport and Communications (MoTC) hosted Bank of Beirut, one of the leading banks in the sultanate to present its banking services in the Hayyak Hall at the ministry offices.

Bank of Beirut’s"...

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