BBAC raises its capital to LL149 billion

Ghassan Assaf reelected president, bank to distribute 2010 dividends

July 1, 2011- The exceptional General Assembly of the Bank of Beirut and Arabian Countries (BBAC) decided to distribute its dividends for 2010, worth LL110 per share, a 10 percent increase compared to 2009.
It also decided to increase the bank’s capital to LL149 billion from its current LL77 billion.

The General Assembly elected a new board of directors comprising: Assaf Holding Company - Ghassan Assaf - Abbas Halabi - Walid Assaf – Ali Assaf - Marc Maamari - Ali Ghandour - Farouk Mahfouz - Nadim Qassar - Michel Tueini.

The BBAC’s board reelected Ghassan Assaf as president, and Abbas Halabi as vice-president.