According to Midclear, BLC Bank S.A.L acquired all the assets, liabilities, rights and obligations of BLC Invest S.A.L.
BLC Invest has therefore been scratched off the list of banks in Lebanon and its account at Midclear has been closed on the 24th of May 2017.
BLC Invest’s investment focus was private equity in the Lebanese market with Food and Beverage, Services, Technology, Light Industry and Utilities as favored sectors.
BLC Bank’s Q1 2017 Financial Highlights
| In $ million | Dec-16 | Mar-17 | YTD |
| Total Assets | 5,744.64 | 5,723.08 | -0.38% |
| Loans and Advances to Customers | 1,845.72 | 1,865.51 | 1.07% |
| Customers’ Accounts at Amortized Cost | 4,690.50 | 4,632.43 | -1.24% |
| Shareholders’ Equity | 577.91 | 588.45 | 1.82% |
| Net Profit for the Period | 9.24 (*) | 10.52 | 13.86% |
(*): Value of March 2016
Source: Beirut Stock Exchange