Emirates NBD plans to sell stake in Bank of Beirut-report

Dubai:

News organisations in Lebonan reported that Emirates NBD is planning to sell its 7.56 per cent stake in Bank of Beirut, quoting sources.

Emirates NBD, which is the fourth largest shareholder in the bank, offered no comments when contacted. But market source said that Emirates NBD is looking to sell its partial stake.

Bank of Beirut posted a net profit of $151.98 million (Dh558 million) in the third quarter of 2017, total assets stood at $17.47 billion. The bank is one of the five leading Lebanese banks in terms of profits, customer deposits and assets, according to the report.