A BankMed bran in Sin al-Fil. (Credit: PHB/L'Orient Le-Jour)
BEIRUT — BankMed (Switzerland) SA is changing its name to Banque Des Monts Blancs SA. The rebranding comes as the latest step in a series of restructuring efforts initiated in 2023, according to a press release on Jan. 31.The decision was taken a year ago, Michel Accad, CEO of BankMed explained to L’Orient Today. And, the approval from Swiss authorities only came last month, after which the rebranding was made official on Jan. 25."Since the beginning of the crisis in 2019, it became difficult for a Swiss bank with Lebanese ties to attract clients and continue growing the business, everyone would directly associate it with the Lebanese parent bank," Accad told L’Orient Today.The crisis decimated Lebanon’s national currency and banking sector – once a pillar of the country’s economy.Regulated by FINMAThe Geneva-based private bank,...
BEIRUT — BankMed (Switzerland) SA is changing its name to Banque Des Monts Blancs SA. The rebranding comes as the latest step in a series of restructuring efforts initiated in 2023, according to a press release on Jan. 31.The decision was taken a year ago, Michel Accad, CEO of BankMed explained to L’Orient Today. And, the approval from Swiss authorities only came last month, after which the rebranding was made official on Jan. 25."Since the beginning of the crisis in 2019, it became difficult for a Swiss bank with Lebanese ties to attract clients and continue growing the business, everyone would directly associate it with the Lebanese parent bank," Accad told L’Orient Today.The crisis decimated Lebanon’s national currency and banking sector – once a pillar of the country’s economy.Regulated by FINMAThe Geneva-based private...
Rubio condemns Iran's 'outrageous' attacks on Kuwait
