Timeline

  • 1961
    1961
    The Bank was incorporated on May 5, 1961, as a Société Anonyme Libanaise (joint stock Company) under the name of “Development Bank SAL” with a capital of LBP 8 million for a period of 99 years.
  • 1998
    1998
    The majority of the Bank’s shares were purchased by a group of Lebanese and foreign investors.
    And until now, this same group of shareholders is still pursuing its policy towards raising the Bank into one of the top national banks.
    Since then, the Bank has achieved significant growth in total assets as well as in the main components of its balance sheet.
  • 1999
    The Bank acquired the total share capital of BCP Oriel Bank, and consequently all branches of the acquired bank are to this date operating under Intercontinental Bank of Lebanon (IBL Bank).
  • 2003
    2003
    IBL Bank was the first to introduce the Smart ATM in the Lebanese Market
  • 2005
    IBL bank was one of the first Lebanese banks to enter the Iraqi market by opening a representative Office in Erbil
  • 2006
    4 new branches were added in Lebanon to cover the whole country.
  • 2007
    2007
    The bank obtained a license from the Central Bank of Cyprus to operate in Limassol.
    A branch was subsequently instigated on Makarios III Avenue and became operational in 2008.
  • 2008
    Following the satisfactory results that ensued from the opening of a representative office in Erbil, Iraq, the Board of directors leveraged the bank’s first mover advantage in Iraq by upgrading the representative office to a full branch.
  • 2008
    The Board of Directors decided to change the Bank’s name and logo from Intercontinental Bank of Lebanon to IBL Bank, in order to boost the Bank’s positioning and Brand awareness.
  • 2010
    The bank further developed its presence in Iraq by building an additional branch in Baghdad
  • 2011
    6 new branches were added to the bank’s Lebanese Network strengthening its position between the top national Banks.
    The strong growth that the Bank had achieved since 1998 was coupled with and fostered by continuous investments in human capital, either organically through seminars, training sessions and effective Human Resources management or externally by recruiting skilled managers and dynamic young staff.

    Amid its track record of solid growth, rigorous risk management and adequate Capital levels, the Bank is in the process of developing its local and regional network.
  • 2014
    2014
    Basra followed, being the 3rd branch covering another potential region in Iraq
  • Currently
    The Bank has 20 active branches spread all over Lebanon, and 4 Branches abroad: the first in Europe (Cyprus - Limassol), and 3 Branches in Iraq (Erbil, Basra and Baghdad).
    The Bank’s Head-Office and main branch are located in Achrafieh, Beirut.