Lebanon Businessnews News
 

Anwar Jammal reclaims stake from MEAB
Jammal Bank CEO buys back 16 percent of bank’s shares
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Jammal Trust Bank Chairman, Anwar Jammal, reclaimed 16 percent of the bank’s shares, which Middle East and Africa Bank (MEAB) had bought for $9 million a few months ago.

Jammal bought back the stake from MEAB at an arranged price in addition to the equivalent of the yield on the investment of $9 million .

Jammal Bank and MEAB are among the smallest ten banks in the country, with deposits ranging between $200 million and $500 million. Jammal Trust Bank’s assets stood at $506 million in 2009.
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Date Posted: Sep 07, 2011