Banque Bemo Saudi Fransi (196)


Last week, the Damascus Securities Exchange was on track to witness one of its worst weeks in terms of trading volumes when a handful of transactions lifted the bourse’s overall weekly activity.


Banque Bemo Saudi Fransi, the first private sector bank to open in Syria after decades of state monopoly, has announced the relocation of its headquarters.


The Syrian stock market index gained last week as total trading remained below the $100k level.


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


The assets and profits of private sector banks in Syria increased last year in Syrian Pound terms, according to preliminary filings.


Bemo Saudi Fransi Finance remained the largest broker in the Damascus Securities Exchange last year, according to data published by the Syrian bourse.


Pro-regime media outlets have published names of leading investors that reportedly owe their banks large sums of money.


The Syrian stock market index has remained almost unchanged for some two months now as trading activity remains subdued.


Brokerage services, Advisory services, IPO Management, Portfolio Management


The two most traded stocks in the Damascus Securities Exchange during the first three quarters of this year are affiliates of Qatari institutions, although politics has little to do with this.


Banque Bemo Saudi Fransi has announced that an armoured car transporting cash from one of its branches had been attacked.


The performance of Syria’s banking sector in the first half of this year continued to be affected by the deteriorating economic conditions and the decline in the value of the Syrian Pound.


Syrian stocks declined last week with trading volumes slightly rising.


A 40 percent rise in the assets of Islamic banks helped increase the Syrian pound value of the balance sheet of Syria’s private banking sector.


Syria’s stock market continued last week its winning streak as interest from investors remained strong.


Banque Bemo Saudi Fransi has announced that it has been the victim of a new hold-up.


SIIB, an Islamic lender, rose to become Syria’s largest private sector bank last year, preliminary data show.


The volumes exchanged last week in the Damascus Securities Exchange increased to SYP 35 million over trading in financial stocks.


The Damascus stock market index posted two successive gains on Tuesday and Wednesday to close the week on a positive note.


Syria’s DWX stock market index fell 0.83 percent this week to close at 775.16 with one stock representing more than 60 percent of traded volumes.


Two financial firms held together more than half of the brokerage market share in the stock exchange last year as the volume of trading fell 82 percent on an annual basis, according to data published by the DSE.


Syria’s stock market began this year as it closed last, with an uninterrupted decline in prices.


Stocks continued to lose ground in the Damascus Securities Exchange over the week while trading volumes reached SYP 6.1 million.


Provisions for bad debts at private sector Syrian banks rose sharply in the third quarter of this year as businesses faced increasing difficulties to reimburse their loans.


The Damascus Securities Exchange extended this week its losing streak to twenty sessions in a row.


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


Souria Holding has suspended works on its Abraj Souria project in downtown Damascus, its CFO said.


Qatar National Bank Syria announced on Tuesday that it been victim of a fraud, the second such report by a local bank in two weeks.


Two Syrian banks announced last week that they had been victims of a robbery and of a fraud, confirming an increase in the number of similar cases in recent months.


The exposure of Lebanon’s Banque Bemo to Syria’s market, through its stake in Banque Bemo Saudi Fransi, has led Moody’s Investors Service, a rating agency, to downgrade the bank’s credit rating.


Unrealised gains from foreign currency holdings helped Syria’s private sector banks boost profits in the first half of this year, which would have otherwise almost all been in the red.


All stocks traded at the Damascus Securities Exchange fell again last week with the total value of shares falling more than 50 percent compared to the previous week.


The aggregate balance sheet of Syria’s private sector commercial banks rose 13.4 percent on a quarterly basis in the first three months of this year thanks to a surge in the assets of Syria International Islamic Bank.


The appointment of Nabil Hshaimeh as chief executive officer of Banque Bemo Saudi Fransi, Syria’s largest private sector conventional bank, has been confirmed by the Central Bank of Syria.


A new company is set to enter the Damascus Securities Exchange in spite of the fact that the market continues to attract only little investment.


Week after week trading remains very limited at the Syrian stock exchange with traders losing hope of receiving any time soon clear indications to where the country is heading.


Last week saw only one trading session at the Damascus Securities Exchange because of the Easter and Independence Day as the DWX remained stable.


The main index of Syria’s stock market declined by 0.50 percent last week to close at 868.54 on April 11, after four consecutive weeks of gains.


Syria’s stock index rose 1.98 percent this week, its highest weekly gain in almost three months.


Trading remained very limited last week in the Damascus Securities Exchange as public holidays reduced the number of trading sessions to two.


Syria’s stock market index remained unchanged last week although it has now fallen more than 50 percent in the year since the beginning of a popular uprising in March 2011. Some analysts speculate, however, that the market could rise again in the coming weeks as the decline in the real value of stocks caused by inflation could render them attractive again.


Syria’s stock market index fell by 1.69 percent this week, its steepest weekly decline in three months in the wake of EU sanctions on the Central Bank of Syria and a continued deterioration in the political and economic environments.


Updated February 20: Syria’s private banking sector saw a decline of some 13.5 percent in total assets last year although it managed to increase revenues and profits, largely on the back of foreign currency revaluations.


Three brokerage houses took a market share of more than 50 percent of all trading in the Damascus Securities Exchange last year, according to data from the Syrian bourse.


The Damascus Securities Exchange resumed its downward slide this week amid very low trading volumes.


Syria’s stock exchange began the year on a positive note with an increase of 1.83 percent in the market’s main index, the DWX.


Syrian investors continued to flee stocks last week with the index of the securities exchange losing an additional 1.85 percent to fall to 846.95.


Since the beginning of the year Syrian stocks have on average  lost half of their value as political and economic risks continued to increase.


Banque Saudi Fransi, the largest shareholder in Banque Bemo Saudi Fransi, Syria’s leading private sector bank, said that it was selling its stake in its Damascus-based subsidiary and sister Lebanese bank, because of the “financial risks” in Syria.