This is Aresbank, the bank that acts as a bridge between Spain and the Arab world
The entity, supervised by the Bank of Spain and owned by Libyan Arab Foreign Bank, has launched a strategic plan to grow its foreign trade business in other countries.
Aresbank, a bank founded in 1975 as Banco Árabe Español, guarantees payments from Middle Eastern and North African banks to European companies through letters of credit. The bank, owned by Libyan Foreign Bank (LBF), focuses on short-term operations, assessing risks without taking out insurance. Aresbank's business areas include foreign trade, treasury management, and traditional banking, with a large transactional banking operation.
The bank has achieved several milestones, including a migration to new IT systems, obtaining a B+ rating from Fitch, and developing a three-year strategic plan to grow its business in Spain and internationally. The plan includes expanding to new markets, such as Algeria, Turkey, and Egypt, and automating processes.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
