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BLF and the GTFP October 23, 2008
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BLF and the GTFP October 23, 2008

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  • 1.
    • BLF and the GTFP
    • October 23, 2008
    • Paris, France
    • Maurice Iskandar
    • Head of International
    • Banque Libano-Française
  • 2. Contents
    • Briefing: Lebanese banking sector
    • BLF - An overview
    • BLF – Key figures
    • BLF Group - Trade finance statistics
    • BLF and the GTFP
  • 3. Lebanese Banking Sector, July 2008
    • 55 commercial banks, 12 investment banks and 16 representative offices of foreign banks
    • Total Assets USD 90.7 bln, as at August 08. 10.2% increase since end of 2007 (up from USD 82.3 bln)
    • Total Deposits USD 76.4 bln, as at August 08. 11.8% increase since end of 2007 (up from USD 68.3 bln) 75% of deposits are in USD
    • Equity of banks USD 6.6 bln, as at August 08. 5% increase since end of 2007 (up from USD 6.3 bln)
    • GDP of Lebanon stood at USD 24.6 bln at the end of 2007 (1/3 of the banking sector size)
  • 4. BLF – An Overview
    • 1930 Branch of the French bank Compagnie Algérienne de Crédit et de Banque
    • 1967 Established as a bank under Lebanese law, with 72% French shareholding
    • 1970 Banque Indosuez acquires 5% direct interest in BLF capital
    • 1976 Established a subsidiary in Paris, Banque Libano-Française (France) which became in 1989 Banque Française de l’Orient SA
    • 1992 Banque Indosuez increases shareholding in BLF to 51%
    • 1996 Crédit Agricole acquires Banque Indosuez (now CALYON)
    • 2004 CALYON reduces its participation from 51% to 9%
    • 2006 Successful issue of USD 100 million preferred shares
    • 2006 Acquisition of 78.3% of Banque SBA established in Paris, with a branch in Limassol, a branch in Damascus Free Zone, a financial subsidiary in Geneva
    • 2007 Obtained approval of the Syrian authorities to establish Bank Al-Sharq (operations to be launched prior to end 2008)
    • 2008 Applied for a representative office license in Abu Dhabi
  • 5. BLF – Key Figures 1/2
    • High level of liquidity in foreign currencies (USD 1.5 bln) placed with major international correspondents in addition to liquid deposits with the Central Bank of Lebanon
    • Lowest exposure among peers to Lebanese government risk denominated in foreign currency (less than 5% of deposits in foreign currencies)
    • Total Consolidated Assets for half year 2008 reached USD 6.2 bln showing a 3.3% increase since end of 2007 (up from USD 6 bln)
  • 6. BLF – Key Figures 2/2
    • Total Deposits for half year 2008 reached USD 5.1 bln showing a 2.6% increase since end of 2007 (up from USD 5 bln) 75% of deposits are in foreign currency
    • Total equity of USD 480 mln which is one of the highest in the sector leading to a CAR of 19%
    • Numerous agreements signed with regional and international institutions such as the International Finance Corporation (IFC), Overseas Private Investment Corporation (OPIC), European Investment Bank (EIB), Agence Française de Développement (AFD) , Arab Trade Finance Program (ATFP) among others
  • 7. BLF Group – Trade Finance Statistics
    • BLF holds a leadership position in Trade Finance in Lebanon,
    • with strong technical expertise (ranked 3 rd in total L/C openings)
  • 8. BLF Group – Trade Finance Statistics Banque SBA is the most active Lebanese-owned bank in France in Trade Finance
  • 9. BLF and the GTFP
    • BLF / IFC partnership goes back to 1996 long before the GTFP launch
    • October 2005, BLF joined the GTFP as issuing bank. BLF was the second bank worldwide to become part of the program
    • In 2006, BLF joins the GTFP as confirming bank
    • June 2007, IFC awarded “Best Use of GTFP Network by an Issuing Bank” to BLF
    • Total transactions done by BLF under GTFP is USD 131 mln (104 transactions). Transactions include confirmation of:
        • LCs
        • Bid Bonds
        • Performance Bonds
        • Advance Payment Guarantees
        • Financial Guarantees
    • Countries where BLF used GTFP include Australia, Saudi Arabia, UAE, Qatar, France, Japan, Greece, Turkey, etc.