Private bank stock offering in Syria very successful

Syrian shareholders bought shares valued at 6.177 billions S.P covering a rate of 98.8% of the total shares which constitutes 25% of the bank capital, Bank of Oudeh Syria announced on Monday.

The stock offering was very successful. "The number of the shares is considered the widest subscription process in Syria whether in size or participation rate," Executive Chief Advisor of Bank Oudeh Syria, Basel Hamwi, told SANA.

He added that the high rate of subscription requires the bank to offer best banking services which meet the needs and expectations of the Syrian market, particularly as the Bank is looking for a genuine partnership with the private sector in Syria.

Chairman of the Board of Oudeh, Sradar Bank Marwan Ghandour, for his part, said the Syrian market horizons are promising, particularly after the issuance of a number of laws and legislations which provide a suitable investment atmosphere.