With dedicated retail, commercial, and private banking divisions, Lebanon’s Saradar Bank is set to help the country regain its prominence as a regional financial services hub. Saradar Bank is the product of the merger between the Near East Commercial Bank (NECB) and the Banque de l’Industrie et du Travail (BIT), both owned by the Saradar Group. Saradar Bank has hired a team of seasoned professionals to ensure both operational excellence and optimum service delivery.
The new bank leverages the heritage of its parents and their vast reservoirs of knowhow. As such, Saradar Bank comes onto the buoyant local market already boasting a well-established track record. Saradar Bank’s management feels confident that Lebanon’s financial services sector has plenty of room for a new entity committed to delivering a wide range of customisable products and services.
Saradar Bank squarely aims to embark on a path of rapid and sustainable growth – both organic and powered by future acquisitions. The new entity has adopted a full suite of governance processes – closely aligned to global best practices – to ensure transparency, integrity and performance optimisation. Both the bank’s board of directors and management are committed to lead by example and to promote exemplary core values and strong ethics throughout the organisation. A balanced governance structure and sound practices have been carefully designed and implemented to safeguard the interests of all stakeholders.
The CFI.co judging panel is excited to see a new bank arise in Lebanon – one that includes the experience and expertise of two well-respected institutions. As such, Saradar Bank is declared winner of the 2016 Best Bank Governance Award Lebanon Award.