Cedrus Bank ( French: Cedrus Bank; Arabic: سيدروس بنك) (part of the Cedrus Group) is a Lebanese bank founded in 2015, [1] which caters to individuals and businesses in Lebanon and the region. [2]
On March 3, 2018, Cedrus Invest Bank announced the acquisition of Standard Chartered Bank in Lebanon [3] and the launch of Cedrus Bank. Cedrus Invest Bank owns 85% of the capital of Cedrus Bank, which amounted to $60 million in 2018, with the remaining 15% going to Nicolas Chammas, [4] president of the Beirut Traders Association. [5]
Fadi Assali, cofounder of Cedrus Invest Bank, was appointed CEO of the new bank and Nicolas Chammas vice-president. [6]
The bank is known to be owned by President Michel Aoun and his family, who have denied allegation. [7]
Cedrus Bank has its headquarters in Dbayeh with two branches in Verdun and Achrafieh. [3]
Cedrus Bank ( French: Cedrus Bank; Arabic: سيدروس بنك) (part of the Cedrus Group) is a Lebanese bank founded in 2015, [1] which caters to individuals and businesses in Lebanon and the region. [2]
On March 3, 2018, Cedrus Invest Bank announced the acquisition of Standard Chartered Bank in Lebanon [3] and the launch of Cedrus Bank. Cedrus Invest Bank owns 85% of the capital of Cedrus Bank, which amounted to $60 million in 2018, with the remaining 15% going to Nicolas Chammas, [4] president of the Beirut Traders Association. [5]
Fadi Assali, cofounder of Cedrus Invest Bank, was appointed CEO of the new bank and Nicolas Chammas vice-president. [6]
The bank is known to be owned by President Michel Aoun and his family, who have denied allegation. [7]
Cedrus Bank has its headquarters in Dbayeh with two branches in Verdun and Achrafieh. [3]