Cedrus Bank
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Cedrus Bank (French: Cedrus Bank; Arabic: سيدروس بنك) (part of the Cedrus Group) is a Lebanese bank founded in 2015,[1] which caters to individuals and businesses in Lebanon and the region.[2]
On March 3, 2018, Cedrus Invest Bank announced the acquisition of Standard Chartered Bank in Lebanon[3] and the launch of Cedrus Bank. Cedrus Invest Bank owns 85% of the capital of Cedrus Bank, which amounted to $60 million in 2018, with the remaining 15% going to Nicolas Chammas,[4] president of the Beirut Traders Association.[5]
Fadi Assali, cofounder of Cedrus Invest Bank, was appointed CEO of the new bank and Nicolas Chammas vice-president.[6]