Cedrus Invest Bank S.A.L (CIB) has received the “Best Bank Governance – Lebanon 2017” award following a study of the Lebanese banking sector by cfi.co, the leading print journal and online resource specializing in the finance and banking sectors.
This prestigious award sheds light on CIB’s entrepreneurial spirit and its new comprehensive corporate governance framework that is now being considered as a new benchmark in the country.
In a fast-growing region where entrepreneurship is eclipsing traditional sources of wealth, people are looking for a bank that is just as entrepreneurial as they are. Cedrus Invest Bank S.A.L proactively seeks out investment opportunities for its clients. And because banking begins with trust, CIB is keen on pursuing generous discussions with its clients. This helps CIB familiarize itself with the client’s way of thinking and get a full understanding of their business and investment objectives or constraints, their sources of wealth, as well as personal lifestyles and retirement plans. Cedrus Invest Bank S.A.L aims to build a cross generation relationship with its clients, anchored in the fact that it is protecting their wealth as if it were its own, and doing everything to multiply it. Cedrus Invest Bank S.A.L does not look at MENA as a potential region – MENA is its only region. Accordingly, the bank’s business model is inspired by the region’s cultural uniqueness, most notably the grey area that exists between personal and corporate wealth. Hence, the bank has been built around a core business – wealth management – and a product proposition that includes multi-family office services, capital markets, investment banking, private equity, and real estate. The bank’s offerings are backed by a highly efficient internal structure, run by Tier 1 investment specialists covering each client’s various needs.
Good governance practices produce better operational performance through healthier allocation of resources and improved management” It can lead to better relationships with all stakeholders, and thus create sound reputation by creating confidence, establishing goodwill, and building investor trust. Since its early days, the bank has developed a corporate governance framework in line with the Basel Committees’ guidance on the subject for banking organizations. The main pillars of the Cedrus Invest Bank’s corporate governance approach include: Corporate Discipline, Transparency, Independence, Accountability, Responsibility, Succession Planning, Fairness, Disclosure and Social Responsibility.