Unprecedented Financial Results Achieved by the Libyan Foreign Bank
Through the combined efforts of everyone and the adoption of a comprehensive strategic transformation plan launched at the Libyan Foreign Bank three years ago in collaboration with major international consultancy firms, including Deloitte, Ernst & Young, and Curtis, we have started to achieve our set goals.
We realized net profits of $804 million in 2022 and 2023, an unprecedented profit level in the history of the Libyan Foreign Bank. This achievement would not have been possible without the concerted efforts of the bank’s employees and our strategic partners. The exceptional profit rate can be attributed to several factors, notably:
The regular flow of oil revenues due to the efforts of the National Oil Corporation, our strategic partner.
Profits from some of the bank’s forei...