Statement from MEAB Bank S A L: sandiegosun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sandiegosun.com Daily Mail and Mail on Sunday newspapers.
Alt: Statement from MEAB Bank S.A.L regarding BDL Circulars
MEAB bank announces that it has fulfilled all the obligations stipulated in the recent circulars of the Central Bank of Lebanon.
As per Decision No. 13259, issued by the Central Bank of Lebanon under Intermediate Circular No. 567, MEAB bank has increased the Bank’s Common Equity Tier One capital by 20% as determined on December 31, 2018.
MEAB Bank has also complied with the requirements of BDL Circular No. 154 by constituting an external account at its correspondent banks, free of any obligations, representing no less than 3% of the Bank’s total foreign-currency deposits as determined on July 31, 2020.
Statement from MEAB Bank S A L: texasguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from texasguardian.com Daily Mail and Mail on Sunday newspapers.
Financial
Performance for the Year 2020
Sampath
Bank recorded a decline in Profit After Tax (PAT), from
Rs 11.1 Bn in 2019 to Rs 8 Bn for the year 2020. Despite this being a 28%
decline, it is nonetheless a noteworthy result against the backdrop of the
COVID-19 induced economic slowdown locally and globally. Meanwhile, the Bank
registered a Profit Before Tax (PBT) of Rs 11.2 Bn compared to Rs 15.5 Bn
recorded in 2019, a decline of 27.9%.
The
PBT and PAT of the Group for the year ended 31
st December 2020 stood
at Rs 11.9 Bn and Rs 8.4 Bn respectively, denoting a decline of 27.2% and 27.6%
respectively.
Fund
Based Income (FBI)
The common shareholders of SOCIETE GENERALE DE BANQUE AU LIBAN SAL are invited to the meeting of the Extraordinary General Assembly that shall be held on Tuesday 15 December 2020 at 11:00 am in the head offices of the Bank located in Dekouaneh, Saloumé (Lebanon), a press release said on Friday.
The meeting will be held in order to deliberate and vote on the matters set out in the following agenda: - Increase of the Bank’s Common Equity Tier One (CET 1) in the amount of USD up to USD 300 Million pursuant to the Central Bank’s Intermediary Circular No. 567 dated 26/08/2020;
- Increase of the Bank’s capital and amendment of Article 5 of the Articles of Association as part of the aforesaid operation;