The Lebanese Canadian Bank reported an 82 percent net income increase for 2003, with figures reaching $13.4 million.
According to the bank’s 2003 unaudited financials, Lebanese Canadian Bank’s total assets rose 57 percent to $1.7 billion. The bank’s shareholders’ equity jumped by 42 percent, which was attributed to the issuance of another series of preferred shares.
Founded in 1960, the Lebanese Canadian Bank had become the first local bank to earn the 9001/2000 International Standardization Organization (ISO) certificate in 2002. The bank has 21 branches across Lebanon and a representative office in Montreal, Canada. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
