BoB keen to boost revenues from abroad

The Daily Star

Bank of Beirut is seeking to raise the percentage of revenues from its operations abroad to up to 50 percent in the medium term, bank chairman Salim Sfeir said. “The successful strategy in expanding abroad into investment-grade countries enjoying political, economic and social stability has remarkably contributed to higher asset quality and more diversified income stream as compared to peer group banks. In fact, our revenue from ‘foreign-related operations’ stands now at approximately 37 percent of the total sum, however, our medium-term objective is to reach 50 percent,” Sfeir told The Daily Star.

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