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Rising Above the Challenges Annual Report 12

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Rising Above the Challenges Annual Report 12 Annual Report 2012 Rising Above the Challenges Banking Group Annual Report 2012 At a Glance Sustainable Growth Credit Libanais Identity..........................4 and Development Credit Libanais Strategy........................6 Our People Capital..............................86 Facts and Figures..................................8 Internal Audit......................................94 Group Key Financial Highlights...........10 Compliance and AML/CFT.................100 Chairman’s Address.............................12 Risk Management and Strategy........106 Financial and Economic Section..........16 Corporate Governance Corporate Social Corporate Governance Framework.....30 Responsibility (CSR) Board of Directors...............................34 CSR and CL Business Strategy.........143 Management Committees Commitment to Shareholders and Governance Structure................36 and Corporate Governance...........144 Group Structure...................................42 Commitment to our Customers........146 Investing in our Communities...........147 Core Banking Activity Valuing our People Capital...................149 Retail Banking.....................................50 Commitment to the Environmentally Responsible Financing..................152 Electronic Banking Services...............58 Corporate Banking..............................68 Investment Banking (CLIB)....................74 Group Treasury, Global Markets Contents and Wealth Management...............80 Financial Results Credit Libanais Group.......................................................................................................154 Credit Libanais Investment Bank (CLIB).............................................................................240 Credit Libanais d’Assurances et de Reassurances (CLA)..................................................258 Correspondent Banks...........................................................................274 Branch Network...................................................................................282 2 Annual Report 2012 Credit Libanais Group 3 Credit Libanais’ Identity Vision Statement Vision Credit Libanais’ purpose is to enhance Mission Credit Libanais’ is the preferred bank in shareholder, customer, and employee value. Lebanon-for customers and employees. Core Values Credit Libanais’ core values are customer focus, Credit Libanais’ is primarily a retail bank and innovation, teamwork and reward for performance serves selected corporate customers. 1961 1977 1994 1996 2000 2003 2004 2005 2006 2007 2008 2010 2011 2012 Establishment Acquisition Acquisition Launching of Acquisition Issuance Issuance of Issuance of A capital Launching Successful Opening of the Best in Launching of of the Bank of of both First the investment of the of the third cumulative three-year Euro increase of of banking management fully-owned category: operations in Continental Phœnician banking arm operations tranche of Preferred CD listed on USD 102 million operations in by the Bank, banking Social and Iraq (Baghdad Bank Bank and of the Group of American three-year Shares maturing international by existing the Kingdom of with Credit subsidiary Economic and Erbil) Capital Trust through the Express Euro CD in 2011 markets shareholders Bahrain Suisse & Credit Award for Migration Bank majority owned Bank, listed on Acquisition of Launching Implementation Changing Byblos Bank, International Housing Loans to the core subsidiary Lebanon international of the 2009 SA, Senegal “Credit Libanais markets ISO 9001:2000 of Islamic of an Employee of affiliated Republic Social Media banking system, Investment Certification banking Stock Ownership leasing of Lebanon Acquisition of launching Equation, across Bank” for Quality operations Plan for a total company voluntary EFG Hermes Best Website all branches of Rising above the Management in Lebanon consideration Credilease into exchange Group of a Awards the Group First issuance of System through of 5.7% of the a Lebanese transaction controlling granted to Launching Euro CDs listed the Bank’s Bank’s common financial for a total majority in affiliates: construction challenges, we on international subsidiary shares institution consideration the capital of Hermes Travel works of the markets by a “Lebanese Winning of the of some USD Credit Libanais and CISA new landmark Lebanese bank Islamic Bank” Golden Pan 2.3 billion Issuance of (Senegal) CL Group continue to grow Arab Corporate USD 75 million Headquarters Website Award Subordinated PCI DSS in Ashrafieh, Bonds compliance for Lebanon and create value maturing subsidiaries in 7 years - Netcommerce where we operate. Transaction and IPN over - subscribed We Cooperate We function as a team. Cooperation among individuals and units is fundamental in delivering the whole Bank Credit Libanais’ Business Principles to the customers. We Serve We deliver superior customer service. We gain customer satisfaction with service that exceeds customers’ We Communicate We are open. We encourage continual dialogue across all units and levels. expectations. We Empower We emphasize delegation. Acceptance of personal accountability permeates our corporate culture. We Act We are action-oriented and encourage personal initiative. Can Do and Will Do are basic attitudes of all employees. We Build We continuously upgrade our skills. Commitment to self-development and training are cornerstones of our competitive advantage. We Perform We grow productivity each year. Revenue and Profit per employee are key measures for Bank performance. We Respect We value each other’s ideas. We treat colleagues fairly, sincerely and courteously regardless of differences in We Improve We embrace change. We continuously seek better problem solutions for the customer and the Bank. background. 4 Annual Report 2012 Credit Libanais Group 5 People Capital Optimization conservative risk management philosophy, taking only Credit Libanais Strategy Credit Libanais’ success depends on having the well evaluated risks in line with the board risk tolerance. competent talents and leaders to execute our strategy. As a leading institution in Lebanon and relies on the fundamental pillars of Our people strategy continues to optimize available Business Diversification and Expansion a source of major wealth creation and Customer Focus and Sustainable talent by building competitive advantage through Over the past years, our Group successfully comprehensive development training programs and development, Credit Libanais Group Growth, People Capital Optimization, implemented a business diversification strategy. CL tools. Our employee engagement is further enhanced believes that foreign expansion not only diversifies remains committed to its responsibilities Sound Capital Management, Prudent through improved communication and alignment of the risks, but also takes advantage of the economic and towards shareholders, customers, Risk Management and Appetite, corporate strategy with employee performance. Our business opportunities present in the regional and system of goal-setting, measuring and performance employees, communities and the Business Diversification and Expansion international economies. In the coming years, the Bank evaluation helps us build a respectable working is looking forward to further expanding its local, regional environment, and thrives to meet their and Responsible Cost Efficiency environment, capable of driving business success and and international network and plans to inaugurate new expectations. Our integrated strategy Management. delivering high quality customer services. branches and subsidiaries in Lebanon and the region. The expansion strategy achieved very positive initial Sound Capital Management results, as revealed by the Bank’s presence in Senegal, The way we manage our capital is key to our business. Bahrain, and Cyprus through full-fledged branches and Capital provides safety and soundness for our in Canada through a representative office, capitalizing ocus customers’ deposits, fuels our growth, and reassures r F Peo on the economic growth prospects in these countries e able ple m ain C all stakeholders. We remain committed to maintaining to st Opt a specifically through retail, commercial and corporate s u th im pi u S ow iz ta a solid capital base to support the risks associated with C d r at l Credit Libanais Group n G io banking, in addition to private banking and capital a n our diversified businesses across our entities, while still markets activities. In June 2012, the Bank launched two contributes to value providing investors with good returns. We also reinforce branches in Iraq (Baghdad and Erbil). S M y the link between risk and capital through our internal t o c creation and growth e a u l n n n e n capital adequacy assessment process. Stress testing is b e Responsible Cost Efficiency Management i a i d s m c g C n e fi e through ethical banking a crucial component of assessing our capital adequacy Cost efficiency management is a traditional strength f g o m a E a p p e s to ensure growth and development in a safe and sound n t i at our Group. Today, we are giving our corporate t n s e a a t o R practices, best practices l M manner. responsibility more importance than ever, and striving to C management and make the right decision leading towards creating value Prudent Risk Management and Appetite and ensuring sustainable growth of our resources. k D B is At Credit Libanais, we are known for our robust risk i u R t Across Credit Libanais Group, we carefully monitor our a
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