History
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As of 1996, the Lebanese economy regained its dynamism and growth. This was revealed through the banking expansion, the diversification of financial competencies and the emergence of an international competition as many international banks set eyes on Lebanon considering it a high potential market.
A professional, trustworthy, closely-bound and dedicated team was then formed to manage the Bank in line with market trends whilst staying loyal to the founders' principles and values of transparency and customer service. Institutionalizing yet maintaining the same distinct family spirit of the organization required restructuring the Bank; this revamping extensively covered all disciplines including Marketing, Sales, Training, and Information Technology.
On November 4, 2002, Crédit Bancaire acquired Crédit Lyonnais s.a.l. - Lebanon. This acquisition allowed the former to achieve the main goals set by the Board: further develop the corporate banking and private banking departments.
On December 2002, "Crédit Bancaire s.a.l." changed its name to "CreditBank s.a.l."
During the first quarter of 2004, CreditBank moved all its central departments and Head Office functions into a modern headquarters at Freeway Center - Sin el Fil Blvd.
In 2009, CreditBank sealed a deal to subscribe to a capital increase in Anelik Bank CJSC, a bank incorporated in Armenia, leading to an ownership of 51% of Armenian bank - Anelik CJSC and in 2011 increased the stake to 69.5%. Anelik Bank also owns a full subsidiary in Russia - Anelik RU.
In Lebanon, CreditBank has become a major player on the market, with a tier 1 capital of over USD 105 million, equipped with a wide range of customized products and services, a network of 15 strategically-located branches and a growth-minded strategy. Its lasting relationship with its customers is based on its dynamic understanding of their changing financial needs and its transparent and harmonious culture.