As Lebanon faces mounting political and economic challenges and the World Bank proposes urgent reforms, the country’s top two banks, Blom Bank and Bank Audi, are on a roll – agreeing strategic bank acquisitions in Egypt, announcing record 2005 results and making successful stock issues.
Despite months of turmoil triggered by the assassination of former prime minister Rafik al-Hariri in February last year, the banks have managed to weather the storm, boost profits significantly, and make expansion abroad and the prospect of becoming regional players a reality.
