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The Success Stories of Bank of Beirut Funds
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For Immediate Release
Bank of Beirut – July 16, 2009: Five years since the introduction of the Beirut Golden Income Fund, Bank of Beirut now has another success story in the making. The launch of Beirut Golden Income II, a newly introduced Fund that provides Bank of Beirut customers the golden opportunity to invest in the local currency and achieve a high and guaranteed minimum annual return of 8.65%, with the possibility of earning a higher yield.
The year 2000 when Bank of Beirut launched its first U.S. Dollar Five-Year Fund, which generated a phenomenal return to our customers, was only the starting point of the Bank’s venture. Determination and perseverance to maintain leadership in Assets and Funds Management underlies the Bank’s continuing emphasis to creating new Funds. Customers’ appetite and the confidence they have invariably vested in Bank of Beirut was the driving force behind this success. Today, Bank of Beirut is launching its twelfth fund and as usual looks forward to its customer’s confidence and support in both the Bank and its professional team. “This Fund, as in the case of previously launched funds, will most definitely reflect a consistent performance by generating a higher yield than anticipated,” commented Mrs. Mona Gabriel, Head of Assets and Funds Management Department.
We are confident that, as a result of our strategy, our Bank will emerge to a greater growth potential in its Assets and Funds Management.
As a point of fact, following its five year term of exceptional steady performance, Beirut Golden Income is expected to achieve 10.75%, which is higher than the minimum guaranteed promised return. Dividends were distributed annually, offering a guaranteed minimum return of 10.20% per annum; (51% over 5 years). These impressive results, coupled with the Bank’s continued strong position on both the Lebanese and regional banking scenes rendered Bank of Beirut a competitive edge in Assets and Funds Management.
Beirut Golden Income II reflects the following features:
- Maturity: 5 Years
- Currency: Lebanese Pound (LBP)
- Minimum Annual Guaranteed Return: 8.65%
- Dividend Payment: Semi-annual
- Open-ended Fund
- Subscription Fees: 0.5%
- No Exit Fee
- Bi-weekly redemption at prevailing Net Asset Value (NAV)
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| For more information contact: |
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Ingrid Sfeir
Head of Media Relations
Bank of Beirut S.A.L.
Phone: 01/738767 – ext 227
Email: isfeir@bankofbeirut.com |
Assets & Funds Management
Bank of Beirut s.a.l.
Phone: 01/ 970429
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| About Bank of Beirut s.a.l. |
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Incorporated in 1963 in Beirut, Lebanon, Bank of Beirut s.a.l. is one of Lebanon’s leading banks ranking 7th in terms of total assets and 6th in terms of profitability. The Bank offers a full range of banking services throughan extensive network of 43 branches in Lebanon, and a network of foreign entities: a branch in Limassol - Cyprus, a branch in Muscat - Sultanate of Oman, a wholly owned subsidiary in London - United Kingdom (Bank of Beirut (UK) Ltd) and three Representative Offices located in Dubai - UAE, Lagos - Nigeria and Bagdad - Iraq. In addition, Bank of Beirut operates a wholly-owned Financial Institution (BoB Finance s.a.l.) and an insurance brokerage firm (Beirut Brokers s.a.r.l.) and an independent investment bank, (Bank of Beirut Invest s.a.l.).
Since 1997, the Bank embarked on an aggressive expansion plan, aiming at enhancing its market position. This was achieved through a number of transactions ranging from private placements and issuance of Preferred Shares, to entering into strategic alliances with regional Arab banking institutions, and acquiring other banking competitors, namely Transorient Bank s.a.l. in late 1998, and Beirut Riyad Bank s.a.l. in June 2002. |
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