Saudi Bank Closes Lebanon Branches
The National Commercial Bank of Saudi Arabia has reportedly decided to end its operations in Lebanon, a decision seen as a blow to Saudi-Lebanese relations.
Informed banking sources expressed fear that the decision to close the bank’s two branches in Lebanon was the result of Hizbullah’s verbal attacks on Saudi Arabia.
The sources told al-Liwaa newspaper published on Wednesday that the end of the bank’s operations is a negative indicator not just at the banking and economic level but also at the level of Saudi-Lebanese ties.
NCB, Saudi Arabia’s largest lender, has branches or offices in Bahrain, Beirut, Singapore, Seoul, and Shanghai.
Its Lebanon branches are located in downtown Beirut and Hazmieh.
G.K.
D.A.
over 9 years
Thank you Ebola for destroying our economy.
over 9 years
Really sorry for this site, one less sponsor...
over 9 years
and who sponsors you? Iran
over 9 years
always the best flamesrower. some singly anazar
over 9 years
@southern. What are we going to do? Oh my God, NCB Alahli gone, shou rah na3mul ya southern.
As if Hezbollah cares what happens to the Lebanese or their lives. Bank sadirat Iran will open 10 branches instead.