BLF expands in Iraq

Two branches planned
in Basra and Erbil

Banque Libano-Française (BLF) is planning to expand its presence in Iraq through two new branches in Basra and Erbil. The bank already operates in the Iraqi market through a branch in Baghdad since February 2013.

Maurice Iskandar, Head of the International Division at BLF, said growing in Iraq is part of BLF’s strategy: “We had been dealing with Iraq for a long time before we established a physical presence there. Now that we have fully launched our Baghdad branch we are considering further expansion in the market.”

According to Iskandar, BLF sees operations in Iraq as one of its main growth potentials at the moment.

BLF serves Lebanese businesses in Iraq, as well as Iraqi clients and international companies. The full-service branch in Bagdad offers traditional banking services for corporate, SMEs, and retail clients.

“We try to follow our clients, mainly Lebanese nationals, wherever they develop their businesses so we could provide them with banking services where we feel they are not adequately served by the local banks,” said Iskandar.

BLF operates directly, or through subsidiaries, in France, Syria, Cyprus, and Switzerland.