First National Bank (FNB) announced this week that Rami Nimer has been elected as Chairman after former Khaled Abdullah Sager completed his term in office. Nimer’s father was chairman of Banque Beyrouth pour le Commerce (BLC) before being acquired by Byblos Bank in 1997. The medium-sized bank is embarking on a restructuring plan and has raised its capital up to $25 million from $15 million the year before.
FNB is currently broadening its shareholders’ base to include investors from Lebanon and the Middle East and is planning to expand locally by opening new branches. — ( Lebanon Invest )
© 2001 Mena Report (www.menareport.com)