Lebanon and Gulf Bank raises capital to $130 million

Based on good results in the first half of 2013, Lebanon and Gulf Bank increased its capital to $130.6 million through the issuance of new shares.

The bank is pursuing an expansion strategy by opening new branches locally and abroad. It opened a representative office in Dubai and added new members to its board of directors.

Lebanon and Gulf Bank’s profits in the first six months of the year grew by 42 percent compared to the same period in 2012. In 2007, the bank’s capital totaled $34.6 million.