Bank of Beirut and the Arab Countries
Bank of Beirut and the Arab Countries is a Lebanese commercial bank serving retail, corporate, private-banking, trade-finance, treasury, and insurance-related customers.
Last updated August 25, 2026
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Overview
Bank of Beirut and the Arab Countries s.a.l., commonly known as BBAC, is a Lebanese commercial bank established in Beirut in 1956. It is a separate institution from Bank of Beirut, despite the similarity in their names. The bank was founded by Tawfiq Assaf, Nach'at Sheikh Al-Ard, and Jamal Shhaibir and received its banking authorization from Banque du Liban, Lebanon's central bank. Its headquarters are in the Clemenceau district of Beirut. BBAC operates primarily as a universal commercial bank. Its activities cover personal and retail banking, corporate and commercial banking, private banking, trade finance, treasury and capital-markets services, and bank assurance. This range gives the institution a business mix spanning individual customers, companies, entrepreneurs, and investors rather than concentrating on a single specialist banking segment. The bank's offering is therefore positioned around relationship banking and the provision of multiple financial services through one institution. The bank began extending its regional presence in 1986, when it opened its first branch in Cyprus. The available reference material describes a later network of 39 branches in Lebanon and five overseas locations in Cyprus and Iraq, together with representative offices in the United Arab Emirates and Nigeria. The overseas footprint supports the bank's connection to Lebanese and Arab commercial, trade, and diaspora-related activity, while Lebanon remains its principal operating market. A significant expansion of the bank's service scope occurred in 2001, when BBAC acquired 80 percent of Capital Insurance and Reinsurance. The transaction enabled the bank to add insurance-related services to its broader financial-services platform and is associated with its bank-assurance activities. The institution subsequently increased its capital through preferential-share issuances. Capital was reported at 77 billion Lebanese pounds in 2006 after an issuance valued at US$50 million, and a further US$80 million issuance in 2012 was reported alongside an increase in capital to 157 billion Lebanese pounds. Ownership has historically been concentrated. The reference material identifies the Assaf family as holding 54.45 percent, Fransabank as holding 37.07 percent, and minority shareholders as holding the remaining 8.48 percent. Ghassan Assaf, son of founder Tawfiq Assaf, is identified as chairman and as having continued his father's role in developing the institution. The bank was described in the reference material as one of Lebanon's ten largest banks by assets. For 2018, reported assets were 12,247 billion Lebanese pounds, compared with 10,444 billion pounds in 2017. The same material reported 2017 net profit of 74 billion Lebanese pounds, a liquidity ratio of 79.77 percent, and a capital-adequacy ratio of 14.75 percent. These figures are historical and should not be treated as current financial information. Publicly available material supplied for this dossier does not establish a current ownership, branch-count, financial, or management update beyond the cited description.
History
Bank of Beirut and the Arab Countries was founded in Beirut in 1956 by Tawfiq Assaf, Nach'at Sheikh Al-Ard, and Jamal Shhaibir. The institution was licensed by Banque du Liban and developed as a Lebanese commercial bank rather than as a narrowly specialized financial company. Its name is sometimes confused with Bank of Beirut, but the two are separate banking institutions. The bank's early development was centered on Lebanon. In 1986, it established its first branch outside the country in Cyprus, marking the beginning of its regional expansion. The later network described in the available reference material comprised 39 branches in Lebanon and five overseas branches in Cyprus and Iraq, supplemented by representative offices in the United Arab Emirates and Nigeria. This structure reflected a domestic banking base with links to regional and international Lebanese business communities. In 2001, BBAC acquired 80 percent of Capital Insurance and Reinsurance. The acquisition broadened the bank's activities beyond conventional deposit-taking and lending and supported the development of insurance-related and bank-assurance services. The bank continued to build its capital base during the following decade. A 2006 capital increase brought reported capital to 77 billion Lebanese pounds after the issuance of preferential shares valued at US$50 million. A further preferential-share issuance, reported at US$80 million in 2012, was associated with a subsequent capital level of 157 billion Lebanese pounds. The Assaf family remained the principal shareholder according to the supplied reference material, with Fransabank also holding a substantial stake and minority investors holding the balance. Ghassan Assaf, the son of founder Tawfiq Assaf, continued the family connection with the bank and was identified as chairman. The institution's service portfolio developed into a broad universal-banking model covering retail and personal banking, corporate and commercial banking, private banking, trade finance, treasury, capital markets, and bank assurance. The reference material placed BBAC among Lebanon's ten largest banks by assets. It reported assets of 12,247 billion Lebanese pounds in 2018, up from 10,444 billion pounds in 2017. It also reported net profit of 74 billion Lebanese pounds for 2017, liquidity of 79.77 percent, and capital efficiency of 14.75 percent. These are historical figures from the cited period and do not constitute a current financial profile. The available source material does not provide sufficient detail to document subsequent changes in ownership, leadership, strategy, financial condition, or international operations.
- 2018
Reported asset growth
[1]Historical reference material reported assets of 12,247 billion Lebanese pounds, compared with 10,444 billion pounds in 2017.
- 2012
Further capital increase
[1]A second preferential-share issuance was reported at US$80 million, with capital subsequently reported at 157 billion Lebanese pounds.
- 2006
Capital increase
[1]A preferential-share issuance reported at US$50 million was associated with capital reaching 77 billion Lebanese pounds.
- 2001
Insurance-sector acquisition
[1]The bank acquired 80 percent of Capital Insurance and Reinsurance, expanding its financial-services scope.
- 1986
First Cyprus branch opened
[1]BBAC opened its first branch outside Lebanon in Cyprus.
- 1956
Bank founded in Beirut
[1]Tawfiq Assaf, Nach'at Sheikh Al-Ard, and Jamal Shhaibir established the bank in Beirut after obtaining authorization from Banque du Liban.
Products and positioning
A Lebanese universal commercial bank combining retail, corporate, private, trade-finance, treasury, capital-markets, and insurance-related services, with a domestic branch network and a limited regional presence.
Retail banking
Retail and personal banking
BBAC provides banking services for individual customers through its Lebanese branch network and overseas presence. The supplied reference identifies retail banking as one of the institution's principal business lines, although it does not specify individual account types, cards, lending products, or digital features.
Business banking
Corporate and commercial banking
The bank serves corporate and commercial customers as part of its universal-banking model. This business line is described as including banking support for companies, but the available material does not provide a detailed product catalogue or sector specialization.
Transaction banking
Trade finance
Trade finance is one of BBAC's stated principal services. Its inclusion is consistent with the bank's Lebanese and regional operating footprint, although specific instruments, correspondent arrangements, and customer segments are not identified in the supplied sources.
Private banking
Private banking
BBAC lists private banking among its service areas, indicating a dedicated offering for wealthier individuals or private clients. The available reference does not disclose the service's product structure, geographic scope, or investment capabilities.
Markets services
Treasury and capital markets
Treasury and capital-markets activities form part of the bank's institutional and financial-markets platform. No detailed information is available in the supplied material about securities, foreign-exchange, derivatives, or investment products.
Insurance distribution · 2001
Bank assurance
BBAC's insurance-related offering is associated with its 2001 acquisition of 80 percent of Capital Insurance and Reinsurance. The transaction allowed the bank to broaden its services into insurance and bank assurance, although current ownership and product details are not provided.
Brand decisions
2012
Second preferential-share issuanceStrategyBackground
BBAC continued its capital-strengthening program after the 2006 issuance.
Action taken
The bank completed a further preferential-share issuance reported at US$80 million.
Aftermath
The bank's capital was subsequently reported at 157 billion Lebanese pounds.
Reported capital. 157 billion Lebanese pounds (2012)
2006
Preferential-share capital issuanceStrategyBackground
The bank increased its capital to support its banking operations and expansion.
Action taken
BBAC issued preferential shares reportedly valued at US$50 million.
Aftermath
Capital was reported at 77 billion Lebanese pounds after the transaction.
Reported capital. 77 billion Lebanese pounds (2006)
2001
Acquisition of Capital Insurance and ReinsuranceM&ABackground
BBAC sought to expand its financial-services activities beyond conventional commercial banking.
Action taken
The bank acquired 80 percent of Capital Insurance and Reinsurance.
Aftermath
The transaction enabled the bank to broaden its services into insurance-related activities and bank assurance.
Sources2 sources
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