Lebanon Businessnews News

HOLCOM shareholder of Capital Banking Solutions
Partners plan to tap new markets
Share     Share on Facebook     Share on LinkedIn    
HOLCOM Group, a multinational ICT group established in Lebanon with a turnover of $3 billion, has acquired shares in Capital Banking Solutions, a Lebanese-owned provider of end-to-end banking software.

“We have acquired a sizeable share of Capital Banking Solutions, which allows us to become very active board members,” said Claude J. Bahsali, Chairman and CEO of ITG (Holding) group, affiliated to HOLCOM.

HOLCOM Group offers solutions in the areas of hardware, systems software, application software, and professional services. The group is present in the Middle East, Europe, and Africa.

Bahsali said this partnership aims at strengthening their group’s position in the banking market by adding the Capital Banking Solutions’ suite of products to their portfolio.

Capital Banking Solutions offers integrated and modular products in the areas of core banking, portfolio management, CRM, compliance, and mobile banking. It already has a strong presence in the US and Europe.

“The partnership offers our company and our customers expanded reach, additional resources and strong IT capabilities. By working together with HOLCOM we can further grow our portfolio of offerings and accelerate the execution of our strategic plans,” said Nicolas Jabbour, Group CEO of Capital Banking Solutions.

“Our roles will be complementary and we will benefit from each other’s presence, markets, and experience,” said Bahsali.
Reported by Rana Freifer
Date Posted: Nov 06, 2013
Share     Share on Facebook     Share on LinkedIn