Byblos Bank S.A.L. announced that the Board of Directors, in line with the development and growth of the Bank's business in Lebanon and abroad, passed during its meeting held on 25 July 2015 two resolutions approving the election of Dr. François Bassil as Chairman of Byblos Group, and the election of Mr. Semaan Bassil as Chairman of the Board and General Manager of Byblos Bank S.A.L. The election of Dr. François Bassil came pursuant to the resolution of the Extraordinary General Assembly of Shareholders held on 15 May 2015 to create Byblos Group, which is comprised of the banks and subsidiaries of Byblos Bank S.A.L. As Chairman of the Board of Directors and General Manager of Byblos Bank S.A.L., Mr. Semaan Bassil is vested with the powers granted to him by law and the Articles of Association. In this capacity, Mr. Semaan Bassil represents Byblos Bank S.A.L. in Lebanon and abroad, implements the Board's decisions, and conducts the Bank's business and daily operations.