Tripoli: The Libyan Foreign Bank (LFB) Management Committee held its fourth meeting for 2024 to discuss a number of issues that have burdened the bank over the past years.
The meeting’s agendas included reviewing projects of strategic transformation that have contributed to achieving the current stability of the bank and discussing in depth some of the issues that burdened the bank over the past years while providing its guidance to the executive department about these problems.
The committee approved in its meeting the final approval of its financial funds recently, which reflects positive results, as the approved funds reviewed for 2023 amounted to operating revenues of $531 million and net profits of $503 million.
The committee said that these figures achieve the total profits achieved by the bank over the past two years (2022/2023), which amounted to $804 million.
The meeting also discussed the main issues facing the bank, as the committee issued its directives to the executive management to continue
working to strengthen the lines of defense and protect LFB’s assets in cooperation with the relevant authorities in Libya and the LFB global network of legal advisors.
At the end of its meeting, the Committee commended the efforts made by the Executive Management and employees of LFB across its various departments in achieving stability in the bank and urged them to continue working to complete the strategic transformation of LFB in the next phase.
Source: Libyan News Agency