In accordance with Bank Audi's strategic objective of expanding its retail banking activities, ASIB assists the Bank in developing and marketing new retail products and provides certain of the Bank's retail banking services. In February 1999, ASIB acquired 10 per cent. of Société Nationale d'Assurance, a leading Lebanese insurance company, which is owned 51 per cent. by Assurance Générales de France.
In January 2000, ASIB acquired 99.75 per cent. of Libano-Arabe, a Lebanese insurance company. These acquisitions are considered strategic investments by the Bank, as ASIB will work through these entities to develop market bancassurance products for and on behalf of Bank Audi.