Byblos Bank Honors the President of the National Assembly of the Republic of Armenia

Byblos Bank Headquarters, Ashrafieh, 13 April 2010:

Dr. François S. Bassil, Chairman and General Manager of Byblos Bank Group, hosted a luncheon in honor of Mr. Hovik Abrahamyan, President of the National Assembly of the Republic of Armenia and the delegation accompanying him in his official visit to Lebanon. The luncheon was held at Le Maillon restaurant in the presence of eminent political and social figures, as well as high-profile businessmen and Byblos Bank Group managers.

In his welcome speech, Dr. Bassil praised the close relationships between Byblos Bank, the only Lebanese bank that established a foothold in Armenia back in 2007, and the Armenian people. He said, “Armenians have a fair share in our Group both as shareholders and clients. Our Bank works towards promoting cooperation among the Armenian Diaspora, wherever it may be in general, and between Armenians of Lebanon and Armenia in particular”.

Dr. Bassil added: “The Armenian economy is a promising one of its own accord. It boasts sufficient natural and human resources to support considerable economic growth. In keeping with Byblos Bank’s strategy of contributing meaningfully to the development of the societies where we operate, Byblos Bank’s policy in Armenia is to invigorate both the productive sectors of the economy and the consumption practices that sustain them. This means financing for both industry and services, as well as housing, personal, and professional loans at the retail level, which will contribute to expanding the size of Armenia’s middle class, upgrading the quality of life for its citizens, and supporting the country’s plans for steady, long-term economic growth”.

Then, highlighting the similarities that Armenia and Lebanon share, Dr. Bassil commended the strong partnership and friendship between both countries. “Armenia is a country that boasts a rich cultural heritage that stems from one of the oldest civilizations on earth”, he said. “Like the Lebanese, the Armenian people are open-minded, dynamic, and productive. They refuse laziness and dependency, and they earnestly strive to improve their living conditions and education. They also reject any attempts against their freedom or dignity. Hence, they are people who deserve life, and we have great respect and esteem towards them”.

Mr. Hovik Abrahamyan thanked Dr. Bassil for his significant initiative. He also expressed his pride in Lebanon and  thanked the Lebanese authorities for embracing the Armenian community  and for showing Armenians  such a great respect and support. He added: “We will strive to enhance economic relations between Lebanon and Armenia, so that they will be as fruitful as the political cooperation established between both countries”.

It is worth to note that Byblos Bank operates in the Republic of Armenia through three branches, offering a myriad of banking products and services such as commercial lending, project financing, asset management, private banking, personal banking, and consumer banking.