Beirut, May 03, 2017: LGB BANK, part of the Lebanese Alpha banks, achieved leading ranks based on the latest banking reports, which evaluate and identify the rankings of the Lebanese Alpha Banks for the year 2016, due to its outstanding financial performance in terms of vital growth indicators.
LGB BANK ranked second in customer deposits growth rate of 14.6%, with a value of 5,367 Billion Lebanese Pounds, and ranked third in asset growth rate of 14.9%, with a value of 6,193 Billion Lebanese Pounds while maintaining a high liquidity ratio. The Bank also amounted a rate of 15.6% in terms of net profit growth rate with a value of 53.4 Billion Lebanese Pounds. As for the equity growth, it reached 528 Billion Lebanese Pounds which accounts for 9.3% growth rate, thus contributing in strengthening the Bank’s solvency and increasing its capacity to face risks. In terms of loans, the Bank achieved a growth rate of 4.1%, with a value of 2,172 Billion Lebanese Pounds.
On that note, Mr. Samer Itani, the Vice Chairman and CEO of LGB BANK, stated: “The achieved success is the outcome of the team and board of directors’ unprecedented efforts, and these promising results will serve as an additional incentive for us to continue providing innovative and unique banking experience.” He added: “LGB BANK continues to prove that it is adapting the right strategy for further developing its banking business, and expanding into new markets that further enhances the Bank’s leadership position and competitive edge, through offering new and innovative services and products that cater to its customer satisfaction.”
In recognition of the efforts exerted by LGB BANK to establish a distinct position among the biggest Lebanese banks, the World Union of Arab Bankers granted the Bank the Banking Executive Award 2016 for Excellence in E-banking and Mobile Banking. The Bank also received the MEFTECH award for the Retail Bank of the Year 2016; the Industry Awards 2016 of Best Financial Transformation and the Product Awards 2016 of Best Credit Card and Best Co-branded Credit Card by Banker Middle East – CPI Financial.
This proves that LGB BANK seeks to acquire various awards that showcase its success through its innovative and advanced banking products and services offered in its 18 various branches across Lebanon, in addition to a branch in Cyprus and a representative office in Dubai. The products and services are represented by the Bank’s online banking and mobile app while enabling highest rates in innovation and safety, in addition to a full range of social media channels. Through the various banking products, our clients can benefit from unprecedented banking services such as Banking By Night and LGB Loyalty Program with the competitive LGB Miles Program that enables the Bank’s clients to travel to more than 55 countries, in addition to authentic products such as foreign currency cards in UAE Dirham, Turkish Lira, Saudi Riyal and Sterling Pound, and elite cards: the Black Card, the VISA Infinite Card and the VISA Signature Card.