Byblos Bank S.A.L. is a large bank in Lebanon, providing a full range of retail banking, commercial banking, treasury, capital markets and private banking and international banking and trade finance services through its extensive branch network.
The bank selected BNY Mellon for its global depositary receipt (GDR) program.
“Byblos Bank established this sponsored facility in order to increase liquidity through the listing of Global Depositary Shares and to promote further transparency for investors,” says Semaan Bassil, vice chairman – general manager, Byblos Bank.
“After careful consideration, we selected The Bank of New York Mellon as depositary for its commitment to the Lebanese market and its recognized leadership and expertise. We are confident The Bank of New York Mellon has the resources to help us effectively service our investors and also help generate demand for our GDRs.”
“As the leading depositary bank in the Middle East, we are delighted to be working with Byblos Bank on this transaction, and we look forward to helping Byblos Bank increase its international profile in the years to come,” says Michael Cole-Fontayn, chief executive officer and head of Depositary Receipt Division, Bank of New York Mellon.
L.D.