Al Iqtisad Wal-Aamal magazine released its annual survey of the top 100 Arab banks in terms of shareholders equity for 1999.
Nine Lebanese banks made the list, but none was among the top 10 banks and only three ranked in the top 50 banks. Banque de la Mediterranee ranked 32nd with $398.28 million in tier-one capital, up 10.13 percent from the previous year.
Byblos Bank stood in 42nd place with $287.13 million, up 4.24 percent from 1998, while Banque du Liban et d’Outre-Mer came in at 48th with $268.85 million, up 20.28 percent year-on-year.
The six other Lebanese banks that rounded up the list were Banque Audi (52nd), Fransbank (58th), Banque Libano-Francaise (60th ), Bank of Beirut (84th ), Societe Generale Libano-Europeenne de Banque (85th ),and Credit Libanais (89th).
The survey also covered the top 100 publicly traded Arab banks for the first half of 2000 by market capitalization. Byblos Bank ranked 32nd at $397.09 million followed by Banque Audi (36th), Bank of Beirut (58th), and Banque Libanaise pour le Commerce (88th). Banque du Liban et d’Outre-Mer was not included in the list because its shares are not traded on the local stock exchange. — (Lebanon Invest )