Jordanian, Lebanese Banks to Boost Stakes in Syria, SANA Reports

Feb. 2 (Bloomberg) -- Three Middle East banks won regulatory approval to raise the stakes in their Syrian units from the current 49 percent, the state-run Syrian Arab News Agency reported.

The Housing Bank for Trade and Finance, based in Amman, Jordan, will increase its holding in its Syrian unit to 60 percent, according to SANA. Fransabank SAL, with headquarters in Beirut, will boost the stake in its local business to 59.7 percent and Arab Bank Plc of Amman will enlarge its stake to 53 percent, SANA said.

To contact the reporters on this story: Lina Ibrahim through the newsroom in Dubai at mideastnews@bloomberg.net.

To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net.