Cedrus Bank (part of the Cedrus Group) is a Lebanese bank founded in 2015, which caters to individuals and businesses in Lebanon and the region. On March 3, 2018, ''Cedrus Invest Bank'' announced the acquisition of

Standard Chartered Bank Standard Chartered plc is a multinational bank with operations in consumer, corporate and institutional banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retail banking in the UK, and around ...

in Lebanon 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 Nicolas E. Chammas is a Lebanese Greek Orthodox economist, financier and businessman. Early life He was born in Beirut in 1963. He graduated from American University of Beirut (AUB), Massachusetts Institute of Technology (MIT) and Harvard Busin ...

, president of the ''Beirut Traders Association''. Fadi Assali, cofounder of ''Cedrus Invest Bank'', was appointed CEO of the new bank and Nicolas Chammas vice-president.

Allegations

The bank is known to be owned by President

Michel Aoun Michel Naim Aoun ( ar, ميشال نعيم عون ; born 30 September 1933) is a Lebanese politician and former military general who served as the President of Lebanon from 31 October 2016 until 30 October 2022. Born in Haret Hreik to a Mar ...

and his family, who have denied allegation.

Headquarters

Cedrus Bank has its headquarters in

Dbayeh Dbayeh ( ar, ضبية) is a city in Lebanon located on the Mediterranean Sea in the Matn District, Mount Lebanon, between Beirut and Jounieh. The majority of the population is Christian, apart from some Gulf Arab Muslims who live there during th ...

with two branches in

Verdun Verdun (, , , ; official name before 1970 ''Verdun-sur-Meuse'') is a large city in the Meuse department in Grand Est, northeastern France. It is an arrondissement of the department. Verdun is the biggest city in Meuse, although the capital ...

and

Achrafieh Achrafieh ( ar, الأشرفية) is an upper-class area in eastern Beirut, Lebanon. In strictly administrative terms, the name refers to a sector (''secteur'') centred on Sassine Square, the highest point in the city, as well as a broader quarter ...

Références

{{Reflist Banks of Lebanon