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Byblos Bank Acquires a 100% Stake Armenian ITB Bank

In September 2007, Byblos Bank S.A.L. announced its acquisition of a 100% stake in ITB (International Trade Bank), a bank incorporated in Armenia with 4 branches. The newly-acquired bank is operated as an independent subsidiary of the Byblos Bank Group under the name Byblos Bank Armenia CJSC.

Byblos Bank is the only Lebanese bank to operate in Armenia and will mainly focus on commercial and retail activities there. For Byblos Bank, Armenia in itself represents a very significant market with high potentials especially for retail and commercial activities; Byblos Bank Armenia will also answer the need to serve the Armenian Diaspora which is present in the USA, Europe, Lebanon, Syria and other parts of the world.

This expansion comes within Byblos Bank’s strategy of diversifying its assets and revenues and thus expanding overseas. With the above acquisition, Byblos Bank will now be present in 9 overseas countries, including 4 countries in Europe since 1976 (Byblos Bank Europe is operating in Belgium, France, and the UK), in addition to a branch in Limassol, Cyprus since 1984, a subsidiary in Khartoum, Sudan since 2003 (Byblos Bank Africa), a subsidiary in Syria since 2005 (Byblos Bank Syria is operating presently through 5 branches), a Representative Office in Abu Dhabi, UAE since 2005, a Branch in Erbil, Kurdistan, Iraq since May 2007 and now in Armenia.

Press Release on the establishment of Byblos Bank Armenia.

Board of Directors

On October 13, 2007, the Board of Directors of Byblos Bank Armenia CJSC (former ITB Bank) was elected, giving Byblos Bank S.A.L. full ownership of Byblos Bank Armenia.

Borad of Directors Members 

Shareholders 

Contact Details

Headquarters
18/3 Amiryan str., Yerevan, 0002, Republic of Armenia
Tel: (+374 1) 53 88 67/53 03 62
Fax: (+374 1) 53 52 96
Swift Number: BYBAAM22
Telex: 243360ERMNP AM
Email: info@byblosbankarmenia.am

Amiryan Branch
18/3 Amiryan str., area 22, 1st floor, Yerevan, 0002,
Republic of Armenia
Tel: (+374 1) 50 03 62/ 53 74 42
Fax: (+374 1) 53 52 96

Malatia Branch
113/1 Andraniki, 0004 Yerevan
Tel: (+374 10) 73 99 72/75
Fax: (+374 10) 73 99 74

Vanadzor Branch
Str. Zakaryan 1, 2002 Vanadzor
Tel: (+374 322) 2 13 30
Fax: (+374 322) 2 13 45

Contact Persons

Mr. Georges Sfeir, CEO
Mr. Karapet Melkonyan, Chief Accountant
Mr. Ashot Mirzakhanyan, Head of Consumer Banking Division
Mr. Aram Artinian, Head of Commercial Banking Division
Mr. Hayk Stepanyan, Head of Risk Management & Planning Division
Mr. Haroutioun Bouldoukian, Head of Retail Products Department

Headquarters hours are 9:00 to 18:00 Monday to Friday. Office is closed on Saturdays and Sundays.

Branch hours are 9:30 to 16:30 Monday to Friday. Branch is closed on Saturdays and Sundays.