Credit Suisse licensed to provide financial services in Lebanon
Credit Suisse (Lebanon) Finance S.A.L., a wholly owned subsidiary of Credit Suisse, has been registered as a Financial Institution (FI) in Lebanon. Under the FI-license, issued by Banque du Liban, the newly formed subsidiary of Credit Suisse will provide financial services and comprehensive advice to clients in Lebanon. This development further solidifies Credit Suisse’s presence in Lebanon and reflects the confidence that Credit Suisse has in Lebanon and the Middle East region.
Credit Suisse (Lebanon) Finance S.A.L. will now be able to offer a comprehensive range of Credit Suisse's global and local products and services to clients in Lebanon, one of the Middle East's most dynamic markets. By establishing a licensed subsidiary in Beirut, Credit Suisse is continuing its growth drive in the region.
Michael Philipp, Chief Executive Officer of Credit Suisse in the Europe, Middle East and Africa region, said: "We are pleased to be expanding our footprint in the Middle East, having been granted a financial institution license in Lebanon. This reflects Credit Suisse’s ongoing commitment to clients in the region.”
Alois Bättig, Head Private Banking Europe, Middle East, Africa, elaborated further: "Having operated in Lebanon for almost forty years, Credit Suisse has gained an in-depth knowledge of the local market. By strengthening our presence in Lebanon, we can now provide our customers in this country with state-of-the-art advisory services and tailor-made client solutions.” Credit Suisse has been represented in Lebanon since 1967.
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