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The bank was founded in 1951 by Yousef Beidas and three partners as a trading company. The law in Lebanon in 1951 did not cover banking activities as they are known now and became known in Lebanon during the 1950s and 1960s thanks to a large degree to the efforts of Yousef Beidas who was named as the Architect of Lebanese Banking in the Illustrated London News in October 1963.
Known as "The Genius from Jerusalem" [1] and the founder and Chairman of Intra Bank headquartered in Lebanon, he was a central figure in one of the Middle East's financial success stories and later one of its most disastrous financial collapses. Until his final days, Beidas claimed he was victim of "a well-planned conspiracy".
BLOM Bank; BSL Bank; Cedrus Bank; Creditbank; Crédit Libanais; First National Bank; Fransabank; Intercontinental Bank of Lebanon (IBL) Lebanon and Gulf Bank; Saradar Bank; Bank of Beirut; Société Générale de Banque au Liban (SGBL) Lebanese Swiss Bank; AM Bank (Al-Mawarid Bank) Lebanese Canadian Bank; Jammal Trust Bank; CSCBank; Intra Bank ...
Category: Defunct banks of Lebanon. 1 language. ... Intra Bank; L. Lebanese Canadian Bank This page was last edited on 26 August 2020, at 04:34 (UTC) ...
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Bank Audi: Financials Banks Beirut: 1830 Public bank P A Bank of Beirut: Financials Banks Beirut: 1963 Commercial bank P A Banque du Liban: Financials Banks Beirut: 1963 Central bank S A Banque Zilkha: Financials Banks Beirut: 1946 Defunct, merged into Société Bancaire du Liban in 1958 P D Beirut International Center Production (BIC) Consumer ...
In 1967, Kidder Peabody helped to arrange a deal whereby the USDA's Commodity Credit Corporation invested $21.8 million in the failing Lebanese Intra Bank, a cornerstone of the Lebanese banking industry. [5] This move likely contributed to preventing a major financial crisis in Lebanon from worsening.
The bank stopped payments on October 14, 1966. The collapse of the bank brought the Lebanese economy to a halt and sent shockwaves throughout the Middle East. Intra Bank accounted for 15% of total bank deposits and 38% of all deposits with Lebanese-owned banks. It owned nine other banks, controlled 35 companies and employed 43,000 people at the ...