Fransabank, one of Lebanon's largest banks, will set up an investment banking arm in the next two to three months, officials told the Daily Star on Tuesday.
Joe Sarrouh, the advisor to the chairman of Fransabank, said the investment bank will have a capital of $15 million.
"The investment bank will focus on capital market investments in and out of Lebanon as well as corporate finance and asset management.”
Most of the small number of investment banks in Lebanon have seen their revenues and profits fall over the last few years due to the economic slowdown, according to the paper – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
