BankMed (Suisse) SA, Geneva
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BankMed (Suisse) SA
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Bank Profile
BankMed (Suisse) SA with headquarters in Geneva was founded in 1985 as Banque de la Méditerranée. The bank changed its name in 1992 to Banque Française de l'Orient. In 2001, The bank has gone back to the origin, becoming again member of the Méditerranée Group; the corporate name BankMed (Suisse) SA is now reflecting this change.
BankMed(Suisse) S.A. is a wholly owned subsidiary of BankMed sal, the main operation of GroupMed which is the finance activity arm of the Hariri Group. Originally established in Beyrouth in 1944, BankMed sal is one of the leading banks in Lebanon with 45 branches throughout the country, one branch in Cyprus, one subsidiary in Turkey - Turkland Bank - , and one recently established investment banking unit in Saudi Arabia, SaudiMed Investment Cy.
BankMed sal, a universal bank, offers retail, corporate, investment, and private banking services. With USD 1 billion total shareholder’s equity and circa 1000 employees, customers deposits of around USD 7.2 billion, BankMed sal has total assets of around USD 11 billion representing some 11% of the total Lebanese banking sector.
GroupMed is also present in the insurance sector with Medgulf, one of the largest insurance companies in the Middle East. With a total shareholders equity amounting to USD 200 million, it provides insurance and reinsurance services on the retail and institutional markets with a large activity in Lebanon, Saudi Arabia, United Arab Emirates, United Kingdom of Jordan, South Africa and Turkey. Premiums exceeded USD 428 million in 2008.