Fransabank to Boost Stakes in Syria

by Naharnet Newsdesk 02 February 2011, 14:05

Lebanon’s Fransabank won regulatory approval to raise the stakes in its Syrian unit from the current 49 percent, Syria’s state-run news agency, SANA, reported.

Fransabank SAL, with headquarters in Beirut, will boost the stake in its local business to 59.7 percent, SANA said.

Two other Middle East banks, the Housing Bank for Trade and Finance and Arab Bank Plc based in Amman, Jordan, will increase their holdings in their Syrian units to respectively to 60 and 53 percent, the agency added.

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