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Notification of concentration regarding the acquisition by BLC Bank SAL of a part of the share capital of USB Bank Plc
21/10/2010

The Service of the Commission for the Protection of Competition on the 30th of September 2010 received on behalf of the BLC Bank SAL notification of a proposed concentration according to Article 13 of the Control of Concentration between Enterprises Law (Number 22(I)/99), concerning the acquisition of part of the share capital of USB Bank Plc.

BLC Bank SAL is a Lebanon-based banking institution that provides commercial and corporate, personal, private and general banking services, through its 35 branches across Lebanon.

USB Bank Plc provides banking and financial services to personal, business, and corporate customers through its 19 branches across Cyprus. The company primarily offers savings and current accounts, loan schemes, credit cards and insurance services, as well as trade services and a range of services to facilitate international business entities.

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