Historical Milestones , Group Profile

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Historical Milestones

1921
1963
1971
1980
1984
1985
1993
1995
1997
1998
2001
2002
2003
2005
2006
2007
2008
2009
2010
2011
2012
1979

1921

Fransabank was first established in Beirut as a full branch of one of the major French banks, Crédit Foncier d'Algérie et de Tunisie (C.F.A.T.).

Fransabank is registered n° 1 on the list of banks operating in Lebanon, it is the oldest Bank in the country.

1963
C.F.A.T. changed its name to Société Centrale de Banque.

1971

Société Centrale de Banque in Beirut was acquired by Banque Française pour le Moyen-Orient SAL (B.F.M.O.), a Lebanese company whose shares were predominantly owned by Banque Indosuez Group.

1980

Banque Indosuez sold its shares in Banque Sabbag et Française pour le Moyen-Orient SAL to a financial group headed by Messrs. Adnan & Adel Kassar.

1984

The Bank's denomination was changed to Fransabank SAL.

Fransabank concluded a cooperation agreement with Crédit Agricole SA – France. It led at first to the joint creation in Paris of Fransabank (France) SA, and to the participation of Crédit Agricole SA - France in the shareholding of Fransabank SAL. In line with its global strategy, Crédit Agricole SA exited from Fransabank (France) SA in 2007 and from Fransabank SAL shareholding in 2012.

1985

Fransabank acquired the Assets & Liabilities of Chase Manhattan Bank's branches in Beirut.

1993
Fransabank acquired Banque Tohmé SAL.

1995

Fransabank concluded an agreement with Deutsche Investitions Und Entwicklungsgesellschaft (D.E.G.), which led to the acquisition by D.E.G of 5% of the Bank’s share capital.

1997

A private placement of shares took place, pursuant to which 5% of the Bank's shares were sold to Lebanese, Arab and foreign investors.

The Public Institution for Social Security – Kuwait acquired 2% of the Bank's share capital.

1998
Fransabank acquired Universal Bank SAL.

2001

Fransa Invest Bank (FIB), investment banking subsidiary of Fransabank started its operations.

Fransabank opened its branch in the Damascus free zone in Syria.

2002
Fransabank acquired United Bank of Saudi & Lebanon SAL.

2003

Fransabank acquired all the shares of Banque de la Békaa SAL. Subsequently, in 2007, the Bank sold Banque de la Békaa.

2005

Fransabank became one of the major shareholders (37.067%) of Bank of Beirut & the Arab Countries SAL (BBAC).

2006

Fransabank was the first Lebanese Bank to enter the Algerian market with the opening of its subsidiary Fransabank El Djazaïr SPA.

Fransabank launched its operations in Sudan through an associate bank, United Capital Bank.

2007

Fransabank acquired BLC Bank SAL along with its two subsidiaries, BLC Services SAL and BLC Finance SAL.

Fransabank concurrently purchased 34% of the share capital of Fransabank (France) SA held by Crédit Agricole SA (bringing its participation in the share capital to 100%), and sold 40% of the share capital of Fransabank (France) SA to Financière Océor, a subsidiary of Groupe Caisse d’Epargne (France) - currently BPCE, following which the Bank’s participation in the share capital of Fransabank (France) SA is 60%.

Fransabank established a representative office in Tripoli, Libya.

2008

Fransabank acquired Fransabank OJSC, formerly known as Golden Taler Bank.

Fransabank issued its Series A preferred shares for USD 100 million in Tier 1 capital.

2009

Fransabank became operational in Syria through its subsidiary, Fransabank Syria SA.

2010

Fransabank issued its Series B preferred shares for USD 85 million in Tier 1 capital.

BLC Bank SAL acquired 9.9% of USB Bank PLC – Cyprus and increased this share gradually to reach 97.31% in December 2012.

2011

Fransabank celebrated its 90 years anniversary of legacy and expertise

2012

Fransabank issued its series C preferred shares for USD 75 million in Tier 1 capital.

BLC Bank SAL inaugurated its representative office in Abu Dhabi.

1979

Banque Indosuez (now Crédit Agricole Corporate and Investment Bank – CACIB which is the investment arm of Crédit Agricole SA) was also the major shareholders of Banque Sabbag SAL. Banque Indosuez merged these two banks under the name of Banque Sabbag et Française pour le Moyen-Orient SAL.

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