Societé Générale De Banque au Liban S.A.L Issues Preferred Shares 2015
Following Banque du Liban’s approval on the 13th of May 2015, Societé Générale De Banque au Liban increased its capital by $100.0M through the issuance of 10,000 Perpetual, not Listed, non-Cumulative Redeemable Preferred Shares 2015. The fixed annual dividend will be equivalent to 7% per year of the Issue Price which is $10.000/share. In turn, annual distributions will be subject to withholding tax at the rate of 10% (unless shares are listed on the BSE, the withholding tax is 5%). However, the Bank will reimburse the holders of the mentioned shares for a portion not exceeding 5%.
Societé Générale De Banque au Liban Yearly Financials ($B)
| Mar-15 | Mar-14 | |
| Net Loans & Advances to Customers | 3.76 | 3.19 |
| Deposits from Customers | 11.36 | 10.41 |
| Total Assets | 15.05 | 13.38 |
| Total Shareholders’ Equity | 1.16 | 1.06 |
| Net Profit ($M) | 40.00 | 40.00 |
Source: MIDCLEAR
