Lebanon: Crédit Libanais becomes the next regional bank

“There’s no intention to change the Crédit Libanais brand. It’s a well-managed bank. We don’t want to change something that is successful” Hassan Heikal, EFG Hermes

Audi and Blom dominate Lebanese banking, and these firms have led the regional expansion of Lebanese banks. But with the acquisition of Crédit Libanais by Egyptian investment bank EFG Hermes, this might be about to change. Hassan Heikal, chief executive of EFG Hermes, tells Euromoney that Crédit Libanais will be the vehicle for his group’s push into commercial banking across the Middle East.