|
     
|
ANNUAL REPORT
2000
Chairman’s
Letter
History
Vision & Values
Board of
Directors & Management
Economic Outlook
Report of Independent Auditors
Balance Sheets
Statements
of Income
Notes to Financial Statements
Branches
Correspondents
CHAIRMAN'S LETTER
We started our
commercial business in 1983, and since then we have focused on becoming one
of the major players in the local market of the Lebanese Banking industry.
The ever-changing environment and fierce competition compelled us to adopt
new strategies and undergo a complete restructuring process. We have,
therefore, for the second consecutive year, expanded our branch network to
cover the various regions of the country and a representative office soon to
be opened in Montreal, Canada.
These events were accompanied by an intensive advertising campaign to
reflect the New Image of our Bank.
While still concentrating on our core business, which is Trade Related, we
have also worked on diversifying our products by introducing new retail
banking services such as Personal Loans, Credit Cards, and ATMs. As a
result, we have once again, during 2000, recorded exceptional double digit
growth figures, exceeding by far, the average of the Lebanese Banking
Sector. This was mainly due to our successful expansion plan, the dedication
of our staff and efficient Fast Service provided to our customers.
On November 23, 2000, the Board of Directors decided to increase the Bank's
Capital from 45,450,000,000 L.L. to 100,000,000,000 L.L. This was recently
endorsed and approved by the Central Bank of Lebanon.
The expected new information technology application which will become
operative during the first half of 2001, will enhance our management control
systems, and later on it will allow 24-Hour On-Line Banking.
Training Programs are scheduled to take place during the second Quarter of
this year, in order to develop the skills of our staff and to help them to
become more acquainted with new methods and procedures.
Chairman-General
Manager
Ibrahim Abou Ayyash
Chairman’s
Letter
History
Vision & Values
Board of
Directors & Management
Economic Outlook
Report of Independent Auditors
Balance Sheets
Statements
of Income
Notes to Financial Statements
Branches
Correspondents
|
 |
