CBS meaning in Banking ?

Answer: What is Commercial Bank of Syria mean?

The Commercial Bank of Syria (Arabic: المصرف التجاري السوري‎) is a fully government owned bank in Syria. It is the largest commercial bank in Syria with its headquarters in Damascus. The Commercial Bank accounts for the highest assets share in the banking sector, amounting to 37% of all bank assets at the end of 2017.

The bank offers commercial banking services including long-term loans in Syrian pounds, armored car service, and collections services. The bank has dozens of branches and ATM's throughout Syria.

In 1966, the state achieved complete ownership of commercial banking in Syria by merging all existing commercial banks into a single consolidated Commercial Bank of Syria. In 1974, the Commercial Bank incorporated in Lebanon the Syrian-Lebanese Commercial Bank, in which it owns 85%. Until the 2010s, the Commercial Bank was the only bank in Syria allowed to deal with foreign currency, and allowed and able to finance foreign trade.

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