Lebanon
Bank Audi, Lebanon’s second-largest bank by assets, is boosting its capitalization by $600 million, including a $450 million contribution from leading Middle Eastern investment bank EFG-Hermes Holding. The remaining $150 million will be raised through private and public share issues. The funds will be used to finance the bank’s expansion in the Gulf, north Africa, Sudan, Turkey and Yemen. The additional equity issues will take Bank Audi’s shareholder equity to $1.5 billion.