Sahara Bank

Stock performance

History

Sahara Bank was established in 1964 and, like other Libyan banks, came under state control after the 1969 revolution. In 2007 France's BNP Paribas bought a 19% stake with management control, the first major foreign investment in Libyan banking for decades, but it withdrew from running the bank after the 2011 uprising.

Business model

Sahara Bank provides commercial and retail banking services, including deposits, lending, trade finance, and payments, through a nationwide branch network. Its shares trade on the Libyan Stock Market.

Market position

Sahara Bank is one of Libya's largest commercial banks, majority-owned by the Central Bank of Libya.

Country impact

The bank's brief partnership with BNP Paribas was one of the main attempts to modernize Libya's banking system during the late Gaddafi-era opening, and its fortunes since illustrate how conflict halted that process.