Intercontinental Bank Lebanon
According to AMG’s website, IBL is one of the companies composing AMG.
The bank was incorporated on May 5, 1967, as a Société Anonyme Libanaise (joint stock company) under the name of “Development Bank SAL” with a capital of LBP 8 million for a period of 99 years. In 1998, the majority of the Bank’s shares was purchased by a group of Lebanese and foreign investors. A year later, in September 1999, the Bank acquired the total share capital of BCP Oriel Bank, and consequently all branches of the acquired bank are to this date operating under Intercontinental Bank of Lebanon (IBL Bank). Currently, IBL has 19 local branches. One branch in Cyprus – Limassol and two branches in Iraq (Erbil and Baghdad), and soon it will open a new branch in Basra – Iraq. In addition, during 2008, the Board of Directors decided to change the Bank’s name and logo from Intercontinental Bank of Lebanon to IBL Bank.
According to IBL’s website, two members of the Abou Merhi Family are members of the bank’s management:
⚫ Mrs. Dolly Merhy – Senior Manager, Head of Accounting & Finance;
⚫ Mr. Habib Abou Merhi – Head of Operations, Trade Finance.
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