LGB BANK announced that VISA Infinite and VISA Signature cardholders among their customers can benefit from protection against fraudulent use of their cards. The Bank issued an official statement explaining that the insurance policy against fraudulent use of credit cards that are valid till May 31st, 2018 protects VISA Infinite and VISA Signature cardholders from any fraudulent or unauthorized use of their cards by any third party.
Mr. Samer Itani, the Vice Chairman and CEO of LGB BANK confirmed that "the Bank strives to provide the maximum level of security to its customers in regards to its products and services, and has introduced the insurance coverage on credit cards to serve that exact purpose". Itani explained: "All transactions occurring through our credit cards are highly secure, and we take all the necessary precautions and measures to keep them as such. Yet, there's always a possibility for cards to get stolen, lost, or even be subject to fraudulent use anywhere in the world, that's why it is crucial to have them covered by an insurance policy".
The cardholder shall notify the card issuer of any unauthorized fees or the card's loss or theft by sending a written claim notice within maximum 30 days of the incident's date.
LGB BANK finally underlined that cardholders have to abide by all the terms and conditions according to which their cards were issued. They also have to commit to the obligations laid in every section of the insurance policy, in addition to having their account active and valid with a good record so that they can fully benefit from proper insurance.
Moreover, LGB BANK offers its customers a variety of currency credit cards that enable them to avoid exchange rate charges while travelling. In addition to the US dollar and LBP credit cards, the Bank provides cards in UAE Dirham, Turkish Lira, Saudi Riyal, Euro, and Sterling Pound, as well as other elite cards such as the Black Card, the Visa Infinite Card, and the Visa Signature Card. Credit cardholders also benefit from the Miles Program which enables them to collect miles (1.5 mile for every 1 dollar spent or equivalent) every time they use their card at points of sale, with the possibility of exchanging them for airplane tickets to more than 55 destinations. Additionally, Cardholders can benefit from an exclusive Loyalty Program which grants them an opportunity to collect points and redeem them in cash or exchange them for valuable gifts.
Furthermore, LGB BANK presents a number of value-added banking services such as Banking by Night, Mobile Banking and E-Banking, all abiding by the highest safety and technology standards, as well as a host of social media channels.
In terms of products, the Bank offers a comprehensive range of innovative and modern banking products through a network of 18 branches in Lebanon, in addition to a Cyprus branch and a Representative Office in Dubai. LGB BANK's continuous efforts towards further enhancing its standing as one of Lebanon's Alpha banks and one of the biggest Lebanese banks have earned it many awards including: the World Arab Banking Executive Award for Excellence in the field of E-Banking and Mobile Banking by the World Union of Arab Bankers, the MEFTECH Award for the "Best Retail Bank", as well as the "Best Financial Transformation", "Best Credit Card" and "Best Co-branded Card" Awards by CPI Financial's Banker Middle East Magazine. Today, the Bank continues to pursue more prestigious awards that testify to the institution's numerous achievements in all fields.
It's worth mentioning that LGB BANK came in second place among Lebanon's Alpha Group banks in terms of Deposits' growth in 2016 which increased by 14.6%, to reach 5,367 billion Lebanese Pounds. The Bank also came third in terms of Assets' growth which rose by 14.9% or 6,193 billion Lebanese Pounds, while maintaining a high liquidity status. In terms of Net Profit, LGB BANK registered a growth rate of 15.6% valued at 53.4 billion Lebanese Pounds. Equity grew by 9.4%, around 528 billion Lebanese Pounds, which further enhanced the Bank's solvency and increased its capacity to face risks. Finally, the Bank registered a 4.1% growth in Loans, a rise valued at 2,172 billion Lebanese Pounds.