Bankmed

Bankmed
Company type
Public
IndustryBanking
FoundedBeirut, Lebanon
Headquarters
Beirut
,
Lebanon
Area served

Bankmed SAL (Arabic: بنك البحر المتوسط ش.م.ل; formerly Banque de la Méditerranée S.A.L)[1][2] is a Lebanese bank, established in 1944,[3] owned by the holding company GroupMed.[4][5] It is one of Lebanon’s top five banks by both assets and deposits,[6] and has 36 branches in Lebanon,[7] and one in Geneva (called Bankmed Suisse).[8][9] Bankmed is owned by the family of Rafic Hariri,[5][6] the former prime minister and billionaire businessman who was assassinated in 2005.[10] The bank is also the largest shareholder in Solidere,[11] the real estate company that rebuilt Beirut's Central District after the Lebanese Civil War.[12]

In 2020, former minister Raya El Hasan was appointed as chairperson of the board[13][14] after the resignation of Mohammad Hariri.[15]

Bankmed’s total assets by 2018 were $19 billion.[16]

Background

Egypt-based Jordanian businessman Alaa Al Khawaja acquired the 42.24 percent stake of Ayman Hariri in GroupMed Holding which fully owns Bankmed. The other shareholders in GroupMed are Saad Hariri (42.24%) and Nazek Hariri (the remaining 15.5 percent).[16]

Key people

See also

References

  1. ^ "Consolidated financial statement" (PDF). bankmed.com.lb. January 2016. Retrieved 28 August 2023.
  2. ^ "BankMed (Suisse) SA, Geneva". www.swiss-banks.info. Retrieved 2021-01-23.
  3. ^ Nixdorf, Diebold. "Bankmed Launches First Deployment Of DN Series™ In Lebanon". www.prnewswire.co.uk. Retrieved 2021-02-06.
  4. ^ "Lebanon: GroupMed announces OLT as new major shareholder". Al Arabiya English. 2017-06-14. Retrieved 2021-01-23.
  5. ^ a b "Who owns the banks - Executive Magazine". 3 July 2010. Retrieved 2021-01-23.
  6. ^ a b "BankMed: On a charm offensive". 6 May 2015. Retrieved 2021-02-06.
  7. ^ "Bankmed". yallacompare.com. Retrieved 2021-01-20.
  8. ^ "Bankmed's upside potential amid unstable Lebanese economy". www.worldfinance.com. Retrieved 2021-01-23.
  9. ^ Nixdorf, Diebold. "Bankmed Launches First Deployment Of DN Series™ In Lebanon". www.prnewswire.co.uk. Retrieved 2021-01-23.
  10. ^ "Rafik Hariri tribunal: Guilty verdict over assassination of Lebanon ex-PM". BBC News. 2020-08-18. Retrieved 2021-01-23.
  11. ^ "Corporate profile: BankMed | Financial Times". www.ft.com. Retrieved 2021-01-20.
  12. ^ "Is Beirut's glitzy downtown redevelopment all that it seems?". the Guardian. 2015-01-22. Retrieved 2021-01-23.
  13. ^ "Bankmed appoints ex-minister Hasan as CEO". www.dailystar.com.lb. Archived from the original on 2021-01-30. Retrieved 2021-02-04.
  14. ^ "Raya el-Hassan, nouvelle présidente du conseil d'administration de BankMed". L'Orient-Le Jour. 2020-10-13. Retrieved 2021-02-06.
  15. ^ "Oil trader to sue Lebanese bank connected to Hariri family for $1bn". Middle East Eye. Retrieved 2021-02-06.
  16. ^ a b c "Michel Accad Bankmed's Executive General Manager". BusinessNews.com.lb. Retrieved 2021-02-23.

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