The Project entails an IFC senior loan to Credit Libanais (the “Bank”) to support the Bank’s expansion strategy in the SME segment in Lebanon. IFC will also provide a USD interest rate swap to the Bank to hedge interest rate risk arising from this financing.
Established in 1961 as a joint stock company, Credit Libanais is the ninth largest bank in Lebanon in terms of assets, deposits and loans with market shares of 5.2%, 5.4% and 5.8% respectively as at Sept. 2017. The Bank offers a wide variety of products and services including retail, corporate, investment, microfinance and SME financing. The Bank operates through a local network of 69 branches in Lebanon in addition to full-fledged branches in Cyprus, Bahrain, Iraq, a rep. office in Canada and a subsidiary in Senegal. The Bank's largest shareholders are CIH Bahrain International Holding SAL and EFG Hermes CL Holding SAL, 55.48% are owned by over 1,000 individual shareholders with less than 5% each.
Credit Libanais is headquartered in Beirut, Lebanon, with a network of 69 branches covering most of Lebanon cities.
Head of Financial Institutions
Credit Libanais H.Q, Main Road, Corniche El Nahr – Adlieh, Beirut – Lebanon
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/