BLF soon in Baghdad

Bank to offer retail and corporate banking to Lebanese and Iraqis

Banque Libano-Française (BLF) will open a branch in Baghdad by the end of this year. The bank has already obtained a license to operate in Iraq and procured the location.

BLF-Baghdad's management will be Lebanese. It will have a total of seven employees, Lebanese and Iraqis. “Through establishing branches in these countries, we aim to follow our customers to offer them our services and products,” said Elie Aoun, manager of SMEs at BLF.

BLF-Baghdad will offer retail banking and corporate finance. It will also offer corporate banking services to both Lebanese and Iraqi companies. BLF has subsidiaries in Syria, Cyprus, France, and Switzerland. The bank’s consolidated assets stood at $10 billion at end-2011.

Reported by Rania Ghanem