BLOM (57)

15-04-2019

Blom Bank has said that it would not return to Syria unless western sanctions are lifted, the most explicit statement yet on the reluctance of Lebanese banks to operate in the Syrian market.

22-01-2018

Byblos Bank Syria has announced the appointment of a new general manager.

07-11-2017

Lebanon’s BLOM Bank has withdrawn its last representative in the board of its Syrian affiliate, further confirming the relative disengagement of Lebanese banks from the Syrian market.

14-08-2017

Lebanon’s BLOM has said that it deconsolidated its Syrian operations in order to protect itself from international sanctions.

21-07-2017

Updated on July 21, 2017: Syria’s private commercial banks, which saw last year their assets fall to a fraction of what they were in 2010 and now barely breakeven, are unable to finance any meaningful reconstruction drive.

28-03-2017

Banque Bemo Saudi Fransi has entered talks to buy a controlling stake in Syria Gulf Bank, in the first such consolidation move since the liberalisation of Syria’s banking sector in 2004.

21-02-2017

Following in the steps of two of its competitors, BLOM Bank, Lebanon’s second largest bank by the size of its assets, has deconsolidated its operations in Syria.

07-02-2017

Byblos Bank has announced that it was writing off its Syria investment and deconsolidating its operations there.

23-06-2014

Bank of Syria and Overseas has announced the appointment of a new general manager.

16-06-2014

Abdallah Dardari, Syria’s former Deputy Prime Minister, provided an estimate for the economic cost of Syria’s reconstruction during a business forum in which many of Syria’s old business faces reappeared.

05-05-2014

A large transaction on BSO shares was the only meaningful event last week in the Damascus Securities Exchange.

31-03-2014

Byblos Bank Sal, the Lebanese mother company of Byblos Bank Syria, is increasing its stake in its Syrian affiliate.

19-11-2012

Lebanese-managed Syrian banks lost USD 400 million since the beginning of the uprising, according to the head of the Lebanese central bank.

02-07-2012

Capital Intelligence announced last week that it had withdrawn the sovereign credit ratings of Syria because of a lack of interest from its clients.

06-02-2012

Capital Intelligence, a credit rating agency, said last week it had withdrawn its rating of Bank of Syria and Overseas, the only Syrian bank in its portfolio.

17-10-2011

The Syrian Government has allowed BLOM Sal to own a majority stake in its Syrian subsidiary, BSO, provided the latter raises its capital to at least SYP 5 billion.

24-03-2011

Arope Syria is the Syrian affiliate of Arope Insurance Sal from Lebanon. The two companies are part of the BLOM Group, which also runs Bank of Syria and Overseas.

17-03-2011

Bank of Syria and Overseas is the Syrian affiliate of BLOM Sal, Lebanon's second largest commercial bank in terms of assets. BSO was the second private sector commercial bank to be established in Syria in January 2004. It had 27 branches across the country at the beginning of 2011, including 9 in Damascus.

07-03-2011
16-01-2011
Capital Intelligence, a credit rating agency specialized in emerging markets, has assigned ratings to Bank of Syria and Overseas, the first known Syrian commercial bank to be rated.
23-11-2009

Bank Audi Sal has confirmed that it led a syndicate of 16 regional banks to provide a 7-year USD 340 million loan to the Syrian affiliate of Lafarge S.A., a French building materials company.

26-04-2009

Fransabank-Syria launched officially its operations in Syria on April 20.

05-04-2009

Seven new brokerage firms have received a license from the Syrian Financial regulator.

21-12-2008

Bank Al-Sharq SA has elected its board of directors and appointed a general manager to run its operations in Syria.

01-09-2008

Arope Syria and the Syrian Kuwaiti Insurance Company have published their un-audited mid-year financial statements.

18-08-2008

The Syrian Commission on Financial Markets and Securities has granted a preliminary license to two new brokerage firms.

18-08-2008
Local private banks continue to post two-digit growth in all their main indicators, according to their mid-year financial statements.
09-06-2008
Investment Dar has agreed to sell its 12.5 percent stake in Cham Bank to the Commercial Bank of Kuwait, according to press reports from the Gulf.
12-05-2008

Following its Initial Public Offer, the shareholders of Fransabank Syria held their founding Assembly General and elected their Board of Directors.


Following the Initial Public Offer, the shareholders of Fransabank Syria held their founding Assembly General and elected their Board of Directors.

05-05-2008

Byblos Bank Syria (BSS) has announced an improvement in all its key financial indicators in 2007.

 

14-04-2008
Assets of Bank of Syria and Overseas, the country’s second largest private bank, rose to SYP 62.54 billion (USD 1.30 billion) at the end of last year, according to audited financial statements.
31-03-2008
Syria and Overseas Financial Services (SOFS) has received a preliminary license to set-up a brokerage firm.
10-03-2008

Arope Syria announced profits of SYP 4.59 million in 2007, its first full year of operations.

09-04-2007

The total premium collected by private insurance firms in Syria reached SYP 425 million (USD 8.5 million) last year according to the Syrian Insurance Supervisory Commission

15-01-2007

The Saudi Construction Products Holding Company (SCPHC), an affiliate of the Bin Laden Group, announced on January 14 the launch its Syrian subsidiary under the name of the Construction Products Holding Company-Syria (CPC) with a capital of USD 170 mil...

20-11-2006

Private insurance companies will earn premiums of around SYP 200 million in 2006, their first year of activity, according to Mohammad Hussein, Minister of Finance. Mr Hussein was speaking during an insurance forum held in Damascus between November 13-14

13-11-2006
Adib Mayaleh, the Governor of the Central Bank of Syria, has announced a new set of measures that will enter into effect early next year, during a major bank conference held in Damascus between November 3-5.
03-06-2006

The four insurance companies that had received a license from the Syrian Government in January of this year will start offering their services in the coming few days.

18-05-2006

Deposits in private banks have continued to rise significantly in 2005 and reached around SYP 75 billion (USD 1.5 billion) as at 31 December 2005.

03-02-2006

Four of the insurance companies that had received a preliminary license from the Insurance Supervisory Committee (ISC) last year have now been given a formal license by the Syrian Government to operate in the local market.

01-10-2005
The Insurance Supervisory Committe issued preliminary licenses for six private insurance companies to operate in Syria earlier this month.
15-09-2005
The Bank of Syria and Overseas (BSO), one of the three private banks that are currently operating in Syria, has announced that it will double its capital to SYP 3 billion in a Public Offering from 18 September to 10 October of this year.

16-07-2005
On July 15, the first private insurance companies in Syria were free to apply for operating licenses. In a statement to the state-run al-Thawra daily on July 10 Abdul Latif Aboud, Director General of the General Commission for Insurance said ten intern...
01-08-2004
The Lebanese bank is following its domestic rivals and entering the Syrian market. Contrarily to BEMO and BLOM it will not partner with any other financial institution.