Libya-based Mediterranean Bank on Tuesday said it has raised its capital to sell a 49 percent stake to Bahrain-based Arab Banking Corporation for 74 million Libyan dinars.
'Mediterranean Bank informs that it signed on December 12 a partnership agreement whereby Arab Banking Corporation becomes its international partner,' Mediterranean Bank said in a statement to the Libyan stock exchange.
Mediterranean Bank, founded in 1997, raised its capital to around 94 million Libyan dinars, it added without giving more details.
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