The importance of the Banks of Beirut as important financial institutes can not be denied. They cater to the economic needs of the people of Beirut.
Banks of Beirut form an integral part of the economy of Beirut. They offer corporate banking services as well as personal banking services. The major functions that these banks carry out include maintaining personal and company accounts, offering various kinds of loans, etc. Some of the banks also play an important role in stabilizing the inflation rate.
Bank of Beirut:
Bank of Beirut was founded on 19th August 1963. It was opened as a commercial bank. Previously it was known as the “Realty Business Bank S.A.L”. It is one of the highest banks of Lebanon providing all kinds of banking facilities to the residents as well as visitors. The importance of this bank can be understood from the number of shareholders it has. The bank has been expanding itself tremendously ever since its establishment.
Important Banks of Beirut:
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Other than the Bank of Beirut, the banking network of the city is maintained by various other banks such as:
- American Express Bank Ltd
- Arab Bank Plc
- Al Baraka Bank Lebanon S.A.L
- Banca Di Roma
- Banka Commerciala Italiana
- Bank of Kuwait & the Arab World S.A.L
- Bank of New York
- Bank Saderat Iran
- Saudi National Commercial Bank
- Near East Commercial Bank S.A.L
- Rafidain Bank
- Banque de L'Habitat S.A.L
- Byblos bank S.A.L
- Credit Bancaire S.A.L
- Commerz Bank
- Jordan National Bank Plc
- Jammal Trust Bank S.A.L
- National Bank of Canada
- United Bank of Saudi and Lebanon S.A.L
As a financial institute most of these banks contribute towards the economic growth of Beirut.
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