Lebanon & Gulf Bank Issued Preferred Shares 2015
Following Banque du Liban’s approval on the 30th of September 2015, Lebanon & Gulf Bank S.A.L increased its capital by $20.0M through the issuance of 200,000 perpetual, non-cumulative redeemable Preferred Shares series 2015. These shares were executed at Midclear on the 29th of December, 2015. Each preferred share of series 2015 had an issue price of $100, with a LBP 20,300 nominal value. Non-cumulative annual dividends of 7% per year of the par value are applicable. These dividends will be subject to a withholding tax of 10% (unless shares are listed on the BSE, the withholding tax is 5%).
Lebanon & Gulf Bank S.A.L Yearly Financials ($B)
| Sep-15 | Sep-14 | |
| Net Loans & Advances to Customers | 1.36 | 1.25 |
| Deposits from Customers | 3.11 | 2.82 |
| Total Assets | 3.56 | 3.22 |
| Total Shareholders’ Equity ($M) | 293.00 | 248.00 |
| Net Profit ($M) | 23.00 | 22.00 |
Source: BSE
