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BankMed (Suisse) SA, Geneva
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Bank Profile
BankMed (Suisse) SA with headquarters in Geneva was founded in 1985 as Banque de la Méditerranée. The bank changed its name in 1992 to Banque Française de l'Orient. In 2001, The bank has gone back to the origin, becoming again member of the Méditerranée Group; the corporate name BankMed (Suisse) SA is now reflecting this change.
BankMed (Suisse) SA is a wholly owned subsidiary of BankMed sal, originally established in Beirut in 1944, and one of the leading banks in Lebanon with 45 branches throughout the country, one branch in Cyprus and one subsidiary in Turkey, Turkland Bank. A new investment Banking entity is planned to be established in Saudi Arabia before year end 2007 under the name of SaudiMed Investment Company.
BankMed sal, a universal bank, offers retail, corporate, investment, and private banking services. With USD 626 million total shareholder’s equity and circa 1000 employees, customers deposits of around USD 5 billion, BankMed sal has total assets of around USD 7 billion or 8% of the total of the Lebanese banking sector and represents the banking arm of GroupMed.
GroupMed is also present in the insurance sector with Medgulf, one of the largest insurance companies in the Middle East, with a total shareholders equity amounting to USD 134 million, providing insurance and reinsurance services on the retail and institutional markets with a large activity in Lebanon, Saudi Arabia, United Arab Emirates, United Kingdom, Jordan, South Africa and Turkey.