The FNB Group has a capital of $77.5 million.

Official launching of the FNB Group comes after the bank completed all legal requirements to acquire CFC, a consumer financing company and MECG, an investment firm.

The FNB Group will now offer commercial banking services through the Bank, retail consumer services through CFC, and investment banking services through MECG.

“Through the acquisition we solidified our presence in the retail sector through CFC, and in the investment sector through MECG,” said Rami Nimr, FNB’s chairman and general manager.

FNB paid $60 million for the acquisition of CFC, which provides credit facilities to clients interested in buying vehicles, computers, and home appliances. “On February 12, we finalized all legal requirements to acquire CFC,” Maher Mezher, head of marketing at FNB said.

Acquisition of MECG was completed a year ago. Throughout the year, “MECG was undergoing internal changes such as changes in its brand and logo,” said Mezher.

With the launching of FNB Group, a new era has started for the bank. “We are studying plans to expand in the MENA region,” said Mezher.

The bank plans to open an MECG-branch in Jordan, and a CFC-branch in Syria.FNB also plans to open banking subsidiaries in the region, said Mezher.

FNB does not have banking branches in the region; its regional investments are channeled through a stake it owns in a Syrian bank, and other banks in the region.