Mr. Walid Raphaël elected Chairman General Manager of Banque Libano-Française S.A.L.

Beirut, September 24, 2014 - Mr. Walid Raphael has unanimously been elected as Chairman General Manager of Banque Libano-Française S.A.L. (BLF) by its Board of Directors during its meeting held on September 15, 2014.

He succeeds Founder and Chairman General Manager H.E. Mr. Farid Raphael who passed away on September 1^st, 2014.

Mr. Walid Raphael began his banking career in 1995 at Credit Agricole Indosuez in Paris and then in London, in Projects Finance and in Capital Markets. He joined BLF General Management in 2004 and was elected Member of the Board of Directors and appointed Deputy General Manager in March 2006. He served as General Manager of the Bank since March 2010, as well as Vice-Chairman of Banque SBA (France) and Chairman General Manager of Libano-Française Finance S.A.L.

He received a Master's Degree in Business Law from Panthéon-Assas University, a Master's Diploma in Banking and Finance Law from Panthéon-Sorbonne University and an MBA from INSEAD.

Upon the proposition of the newly elected Chairman General Manager, the Board of Directors then unanimously elected Mr. Elie Nahas as Chairman of Banque Libano-Française Group while maintaining his position as General Manager.

Mr. Nahas joined BLF in 2004 as General Manager. He served as Vice-Chairman General Manager since March 2010.

The Board also unanimously approved the nomination of Mrs. Raya Raphael Nahas as General Manager.

Mrs. Nahas served as Deputy General Manager since March 2010.

Mr. Jamal Mansour was reappointed Deputy General Manager, a position he occupied since March 1993.

Mr. Walid Raphael declared: "The General Management will continue fostering Banque Libano-Française's growth while being faithful to its Founder’s values and principles for the benefit of its clients, its employees, its shareholders and the Lebanese economy at large."

Banque Libano-Française was established in 1967. As at June 30, 2014, it had USD 11 billion in total assets and USD 907 million in consolidated shareholders' equity. BLF operates in Lebanon through a network of 52 branches in addition to 137 ATMs. The international footprint of BLF Group includes subsidiaries in France and Cyprus (Banque SBA), Switzerland (LF Finance Suisse), Syria (Bank Al-Sharq), Representative Offices in United Arab Emirates (Abu Dhabi) and Nigeria (Lagos), and a branch in Iraq (Baghdad).