The shareholders of Fransabank held on January 21, 2020, an Extraordinary General Assembly, which approved to raise Fransabank’s Equity by 20% of its Common Equity Tier I as of December 31, 2018, through cash contributions denominated in USD.
This increase is in line with the requirements of BDL Intermediate Circular No. 532 dated November 4, 2019.
This Extraordinary General Assembly also approved the convertibility of the Cash Contributions into common shares, subject to the approval of the Central Bank of Lebanon.
Fransabank’s decision to increase its Equity confirms the Bank’s willingness to maintain a high solvency ratio.
