The bank said effective immediately, it is no longer represented in the board of directors of Banque Bemo Saudi Fransi Syria and Banque Bemo Lebanon.
The directors representing Banque Saudi Fransi in the two banks submitted their immediate resignations from the board of directors of Bemo Saudi Fransi Syria and Bemo Lebanon.
Banque Saudi Fransi chairman Saleh al-Omair said that the financial risks in the Arab Republic of Syria do not permit Banque Saudi Fransi to continue as partner.
Banque Saudi Fransi is affiliated with Credit Agricole Corporate and Investment Bank that holds an equity interest of 31.1%.
