StanChart to decide Lebanon retail business fate soon

February 20, 2014 12:58 am

Standard Chartered Bank is set to decide within a week on the fate of its retail business in Lebanon after the remaining two bidders made their final offers, The Daily Star has reported, citing local bankers. Cedrus Invest Bank and First National Bank are thought to be the only remaining bidders after Bank Audi, Lebanon’s largest lender in terms of assets and deposits, withdrew from the race. “It shouldn’t take more than a week. The ball is in Standard Chartered’s court. We made our offers and answered all the questions they sent us,” one of the bidders told the daily.