BANK OF BEIRUT (UK) LTD

• ⚠

  Confirmation statement overdue

  Due 2026-04-13.

1. BANK OF BEIRUT (UK) LTD 2002-10-24 → present
2. BANK OF BEIRUT UK LIMITED 2002-08-16 → 2002-10-24
3. NAITELL LIMITED 2002-03-30 → 2002-08-16

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

MHA Audit Services LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“These Financial Statements have been prepared on a going concern basis as the directors are satisfied that the Bank has the resources to continue in business for the foreseeable future. In reaching this assessment the Directors have considered a wide range of information relating to present and future conditions. This assessment includes a review of the Banks' operational resilience, current and future effects on its business model and projections of profitability, capital resources and liquidity. In addition to the severe but plausible firm specific, market-wide and combined stress testing of capital, liquidity and recoverability that the Bank is required to undertake, a series of more severe shocks to the liability outflows were considered in response to the ongoing crisis in Lebanon. After running these stresses, which went beyond any event that has historically been witnessed by the Bank, the Directors were able to demonstrate that the Bank was still able to maintain operating profitability as well as sizeable capital and liquidity surpluses, recording a strong capital position of £136.1m (2023 - £131.1m) in total capital resources, a capital adequacy ratio of 49.95% (2023 – 48.87%) generating an increased total capital headroom of £104.9m (2023 - £77m) vs total risk exposures of £250m (2023 £248m), combined with an LCR ratio of 336% (2023 - 391%) underpinned by 102% (2023 - 97%) cash and cash equivalent ratio to Gross Deposit liabilities, as at 31 December 2024 strongly supported the Bank's ongoing ability to absorb and deal with these stresses over the forecasted periods.”

Significant events

• “In Lebanon, a ceasefire with Israel was agreed in November 2024 and continues to hold, despite the re-ignition of the conflict between Israel and Gaza.”
• “Lebanon's parliament elected General Joseph Aoun as President on 9 January 2025, ending a two-year stalemate.”
• “As the Bank commenced its project to replace its core and digital banking platforms in 2024 with completion due in mid-2025, its administrative expenses including related IT services, increased by 8.24% to £12.2m.”
• “2024 saw the re-classification of the Bank's Ghanaian credit exposures from Stage 2 back to Stage 1. This decision was made after implementation of an IMF program to support Ghana.”
• “Having completed their terms as independent non-executive directors, both Marcus John S Trench and Anthony Bush retired effective 31 March 2025. They have been replaced in the year under review by Jane Lloyd and Kevin Flannery.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.