SGBL Acquires of More Assets and Growth under Antoun Sehnaoui
Antoun Sehnaoui is currently the Chairman of the Société Générale de Banque au Liban or SGBL. Over the years, he has shown his leadership capabilities and vision for this bank. Together with the management of this bank, he focuses on growing it and providing better services. Today, the bank has grown rapidly by acquiring more assets and expanding its clients’ base.
Acquisition of more assets
Under the leadership of Antoun, SGBL has acquired many assets from the Lebanese-Canadian Bank. This was after the process of screening account based on the standards of the Société Générale Group. The acquisition of the assets increased the assets of this group by about $11 bullion. This enabled the bank to rank at the fifth position among the other banks in Lebanon. This was an improvement since the bank previously was ranked at the ninth position. The operation has made it possible for the bank to develop a network of branches at a domestic level. This has enabled the bank to cover the territory in Lebanon better. Currently, it operates 78 branches from the initial 43. Nevertheless, this acquisition has enabled the bank to develop and strengthen its core line of business that include private, corporate and retail banking due to an increase in customer base both outside and inside Lebanon.
SGBL has achieved greater diversification under the leadership of Antoun. The new clients that have come with the acquisition of more assets have led to the need for diversifying the products of this bank. Actually, the new clientele allows the bank to take better diversification of risk in the potfolio of the bank and involve itself in the economy of Lebanon better. The bank now has a broader service and product offerings that are focused on appealing to more clients. This is also boosting the performance of the bank. Under Antoun’s chairmanship, the bank is also putting more efforts towards the satisfaction of the clients.
Opening up new horizons
This acquisition has led to opening up of more, new horizons for the development of the customer base of the bank. Under Antoun, SGBL has grown its customer base by venturing abroad. This can be attributed to the fact that some of the assets that the bank acquired are related to non-resident clients. Some of them are based in African countries. This has convinced the management of this bank that the Lebanese in Diaspora provide great opportunities for the growth of this group. Therefore, the bank has always focused on expanding its portfolio so that it can tap on the new markets.
The continued growth and expansion of SGBL under the leadership of Antoun has instilled confidence in more clients. This is very important because clients want to bank with an institution that they have full confidence in. Under Antoun, SGBL has always assured clients that the institution is in safe management. This has increased confidence in the bank both locally and internationally. These aspects clearly show that Antoun Sehnaoui has played a major role in asset acquisition and growth of SGBL.