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Investment Bank (CLIB)

Credit Libanais Investment Bank (CLIB) is Credit Libanais Group’s fully–owned investment banking subsidiary

Total equity capital:   USD 99.47 million as at year-end 2011

Total assets:             USD 791.36 million at year-end 2011

 

Company Profile
Credit Libanais Investment Bank (CLIB) is 99.83% owned by Credit Libanais and was established in 1996.  It currently offers a wealth of services and investment banking activities in accordance with legislative decree number 50, dated July 1983. Through its team of dedicated professionals, Credit Libanais Investment Bank is constantly on the lookout for new business opportunities and strives to maintaining its strong specialized market position by spotting non-organic growth opportunities for the Group, as well as for local, regional and international private and institutional clients.

Objectives
As Credit Libanais's investment arm, Credit Libanais Investment Bank (CLIB) offers a full array of advisory services and financial solutions for corporate customers, from term lending to highly structured and specialized products across the equity and debt capital markets. During 2011, CLIB analyzed and participated in several investment opportunities and was active in several local and regional mandates, including syndications and securitization deals. Consequently, the contribution of CLIB’s investment banking activities accounted for 14.24% of the Group’s consolidated net profits in 2011 in comparison with 22.70% in 2010

Strategy
CLIB’s strategy pivots around strengthening its position in equity project financing and advisory services while continuing to provide a comprehensive bouquet of investment banking services through:

  • A complete set of medium and long term investment plans
  • Issuance of bonds and Certificates of Deposit
  • Arranging and participating in loan syndications
  • The establishment and management of investment funds
  • Granting medium and long term loans
  • Corporate finance and advisory services
  • Economic research

2011 at a Glance
2011 was mainly characterized by a sharp downturn in economic activity in the light of the strained internal political scene coupled with the uprising in the Arab region in the wake of the “Arab Spring”. Nevertheless, CLIB managed to maintain healthy growth in its commercial and investment banking portfolios. More specifically, CLIB positioned itself more favorably among its peers in 2011, achieving substantial growth in medium and long-term loans as well as in housing loans, where the collateral value does not fall below 60% of the loan amount at any time.

Apart from conventional commercial banking services, CLIB offers clients an array of investment banking services including:

  • Project financing
  • Direct equity participation in attractive activities or through synergistic partnerships
  • Debt and equity underwriting services
  • Raising capital for projects under advisory mandates
  • Investment funds' structuring and management
  • Financial intermediation
  • Corporate advisory services including due diligences and valuations, research and other complementary services 

In addition to all this, CLIB, through its experienced investment banking team, is always keen on developing new financial products that respond to the ever-changing market and customers’ specific financial planning needs.

 

Corporate Finance and Advisory Department
Despite the uncertainties that characterized 2011, the Corporate Finance Department at CLIB strived to spot and analyze new investment opportunities in the region, with a particular emphasis on participating in debt syndication on behalf of multinational corporations. The department broadened the Bank’s exposure to diversified syndications’ portfolios that group various economic sectors including telecom, insurance, banking, real estate, fertilizers, etc. In addition, the department analyzed and financed several asset-backed securitization schemes on behalf of renowned local corporate clients. CLIB's advisory department successfully completed a due diligence, valuation and shares disposal transaction on behalf of a local car leasing company.

2011 also saw the department analyzing several regional expansion ventures in the Greenfield stage or in the form of acquisitions. But tensions in the region significantly hampered banks’ aggressive decisions to expand their regional foothold.

Financial Advisory
CLIB's Corporate Finance Department provides corporate customers and the Group’s affiliates with financial solutions designed to meet the strategic and organizational needs of institutional clients. This includes offering financial assistance to clients by:

  • Evaluating the financial performance of their business
  • Assessing the viability of an expansion/investment alternative
  • Seeking financial reengineering/turnaround
  • Opening their capital to prospective investors
  • Merging with/acquiring another business unit
  • Assisting strategic alliances and partnering transactions

Debt & Equity Placements
CLIB's services encompass advising clients so they can make more informed decision regarding desirable capital structure, locating debt and equity financing sources, as well as negotiating and positioning their company ahead of the competition.

Mergers and Acquisitions
CLIB offers comprehensive assistance to clients seeking to merge with or acquire other private or public enterprise(s) in the same line of business (acquisitions) or in a complementary line of products (wrapped as a joint venture). CLIB provides indispensable professional support during every step of the transaction including: 

  • Preparation of the sale
  • Determination of the strategy
  • Valuation of due diligence and the company
  • Road show 
  • Determination of the best financing structure
  • Raising equity/debt
  • Closing of the deal

Recapitalization and Strategic Advisory
CLIB helps clients with the restructuring of a company’s capital structure. This is most often done to make a company’s debt/equity mix more attractive and financially viable.

 

Debt Syndications
CLIB handles the structuring, pricing, underwriting, and raising of term debt financing for large corporate clients under a consortium of banks. CLIB also participates in loan syndications lead managed by pertinent international banks, subject to satisfactory due diligence.

 

Research Unit
The Economic Research Unit at Credit Libanais Investment Bank (CLIB) sheds light on major local economic developments as well as local, regional and global equity markets and international foreign exchange market trends. It shares its findings via a weekly economic newsletter, thus keeping clients informed. The unit continues to broaden the global reach of the Bank’s economic research publications by establishing new alliances with renowned financial portals and financial newswires around the globe. 2011 saw the  unit succeeding in broadening the scope of its coverage of financial and money market news in English and Arabic, as well as expanding its subscriber database in collaboration with the Bank’s Customer Service Center.

 

The Research Unit at CLIB added new hot topics to its list of economic publications, including in-depth coverage of Public Private Partnerships (PPPs) and Privatization, the differences between said two concepts, and the repercussions of proper implementing Lebanon’s electricity reform plan on major public finances and macroeconomic indicators over a period of three years.

The Economic Research Unit and its publications also grabbed the attention of the media, making the headlines of the economic section of major local and regional TV stations, newspapers and bulletins. The Economic Research Unit also conducted several interviews with local and foreign newspapers and magazines, covering a variety of economic topics including the possible implications of the local and regional political stalemate on Lebanon’s economy and its banking sector.

In 2011 the unit continued to monitor, through its tailor-made indices, the daily performance activity of the Beirut Stock Exchange (BSE). This assisted local and regional stock market enthusiasts in making sound and rational investment decisions. The performance of all three Credit Libanais stock market indices is spotted in the following section: 

 

 

 

 

 

 

Board of Directors                      

 

 

 

Dr Joseph Torbey

Chairman – General Manager

H.E.Dr. Samir Makdessi

Member

H.E. Dr. Jacques Joukhadarian

Member

Dr. Mohamad Rahal
Me. Joe Issa Al Khoury

Member
Member

Dr. Chafic Mouharram

Member

Mr. Michel Khadige

Member

Me. Adel Macaron

Secretary of the Board

 

 

Senior Management                       

 

                     

 

Dr Joseph Torbey

Chairman – General Manager

Mr. Georges Karkabi

Deputy General Manager

Mr. Elie Abi Mrad

Internal Audit

Mr. Alexandre Salem

Treasury and Capital Markets

Mrs Nada Awad Rizkallah

Risk Management and Strategy

Mr. Richard Massabni

Credit Division

Mr. Charbel Mourad

Finance Division

Mr Fadlo Choueiri

Corporate Finance and Advisory

Mr Joseph Youssef

Central Accounting

Me Nada Torbey Rizkallah

Legal Division

                  

 

External Auditors
 

 

FMO – Fiduciaire Du Moyen Orient

 

Ernst & Young p.c.c

 

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