LEBANON — Antoine Habib, Chairman and General Manager of Housing Bank, announced in a statement that MIDCLEAR has approved increasing the bank’s capital from LBP 100 billion to LBP 150 billion, following years of efforts and follow-up to complete the process.
The increase strengthens the bank’s capital base and could provide greater capacity to support its lending activities, including housing loans, although the bank has not announced specific changes to its housing loan programs as a result of the increase.
Habib said the capital increase represents an important milestone in the bank’s journey and demonstrates management’s ability to overcome challenges and achieve its objectives despite the financial and economic difficulties faced by the sector over the past years.
He noted that the increase was made possible through cooperation among the shareholders, the Board of Directors, management, and employees, commending the efforts of all parties involved in reaching this result.
Habib stressed that the capital increase marks the beginning of a new phase of work, expressing hope that the bank will achieve further accomplishments in the coming period.
