Following in the steps of two of its competitors, BLOM Bank, Lebanon’s second largest bank by the size of its assets, has deconsolidated its operations in Syria.
Banque Bemo Saudi Fransi, Syria’s largest private sector commercial bank, has announced the appointment of a new CEO.
In dollar terms, the assets of Syria’s private sector banks declined by 25 percent on annual basis last year.
Banque Bemo Saudi Fransi, the largest Syrian private sector bank, has announced the resignation of its CEO.
The assets of Syria’s private commercial banks increased 17 percent in the first half of this year in Syrian Pound terms.
More than two thirds of the listed stocks in the Damascus Securities Exchange didn’t attract any transaction this week.
The annual shareholders meetings of Syria’s commercial banks have seen some changes in their management and boards.
Syria’s stock index fell on Thursday to its lowest level in over a year after shedding 1.07 percent over the week.
Syria’s 14 private sector have released their preliminary results for last year, although changes in currency prices make it difficult to assess the health of the sector.
The value of trading in the Damascus Securities Exchange increased last week, largely over transactions on a single stock, as did the market index.
Helped by two relatively large transactions, the value of trading in the DSE increased to SYP 53.4 million last week.
Syrian businessman George Obegi passed away last week following a plane accident off the Cypriot coast.
The DWX declined in each of last week’s four sessions as trading in the stock market was dominated by two large transactions involving a commercial bank.
The DWX fell in the last two weeks as the market witnessed two important transactions involving banks.
Banque Bemo Saudi Fransi has announced that it has bought a minority stake in one of its competitors.
Bank of Syria and Overseas has announced the appointment of a new general manager.
Last week, the Damascus Securities Exchange was on track to witness one of its worst weeks in terms of trading volumes when a handful of transactions lifted the bourse’s overall weekly activity.
Banque Bemo Saudi Fransi, the first private sector bank to open in Syria after decades of state monopoly, has announced the relocation of its headquarters.
The Syrian stock market index gained last week as total trading remained below the $100k level.
Byblos Bank Sal, the Lebanese mother company of Byblos Bank Syria, is increasing its stake in its Syrian affiliate.
The assets and profits of private sector banks in Syria increased last year in Syrian Pound terms, according to preliminary filings.
Pro-regime media outlets have published names of leading investors that reportedly owe their banks large sums of money.
The Syrian stock market index has remained almost unchanged for some two months now as trading activity remains subdued.
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The two most traded stocks in the Damascus Securities Exchange during the first three quarters of this year are affiliates of Qatari institutions, although politics has little to do with this.
Banque Bemo Saudi Fransi has announced that an armoured car transporting cash from one of its branches had been attacked.
The performance of Syria’s banking sector in the first half of this year continued to be affected by the deteriorating economic conditions and the decline in the value of the Syrian Pound.
Syrian stocks declined last week with trading volumes slightly rising.
A 40 percent rise in the assets of Islamic banks helped increase the Syrian pound value of the balance sheet of Syria’s private banking sector.
Syria’s stock market continued last week its winning streak as interest from investors remained strong.
Banque Bemo Saudi Fransi has announced that it has been the victim of a new hold-up.
SIIB, an Islamic lender, rose to become Syria’s largest private sector bank last year, preliminary data show.
The volumes exchanged last week in the Damascus Securities Exchange increased to SYP 35 million over trading in financial stocks.
The Damascus stock market index posted two successive gains on Tuesday and Wednesday to close the week on a positive note.
Syria’s DWX stock market index fell 0.83 percent this week to close at 775.16 with one stock representing more than 60 percent of traded volumes.
Two financial firms held together more than half of the brokerage market share in the stock exchange last year as the volume of trading fell 82 percent on an annual basis, according to data published by the DSE.
Syria’s stock market began this year as it closed last, with an uninterrupted decline in prices.
Stocks continued to lose ground in the Damascus Securities Exchange over the week while trading volumes reached SYP 6.1 million.
Provisions for bad debts at private sector Syrian banks rose sharply in the third quarter of this year as businesses faced increasing difficulties to reimburse their loans.
The Damascus Securities Exchange extended this week its losing streak to twenty sessions in a row.
Lebanese-managed Syrian banks lost USD 400 million since the beginning of the uprising, according to the head of the Lebanese central bank.
Souria Holding has suspended works on its Abraj Souria project in downtown Damascus, its CFO said.
Qatar National Bank Syria announced on Tuesday that it been victim of a fraud, the second such report by a local bank in two weeks.
Two Syrian banks announced last week that they had been victims of a robbery and of a fraud, confirming an increase in the number of similar cases in recent months.
The exposure of Lebanon’s Banque Bemo to Syria’s market, through its stake in Banque Bemo Saudi Fransi, has led Moody’s Investors Service, a rating agency, to downgrade the bank’s credit rating.
Unrealised gains from foreign currency holdings helped Syria’s private sector banks boost profits in the first half of this year, which would have otherwise almost all been in the red.