Bank of America pledged to donate $300,000 to help the relief efforts following the explosions in the Lebanese capital, which killed at least 137 people and injured about 5,000 others.
The US bank pledged to donate $300,000 to help the relief efforts following the explosions in the Lebanese capital, which killed at least 137 people and injured about 5,000 others.
In a memo sent to the bank’s employees, Bernie Mensah, the president of Bank of America’s Europe, Middle East, and Africa business, said that $150,000 would be donated to the Lebanese Red Cross and $150,000 “will be donated at a later date to help with Lebanon’s long-term recovery plans”.
Mensah’s memo added that any members of staff who make a personal donation to the cause would have their donations matched by the bank.
Goldmans Sachs and its US rival Citigroup were among the first City financial firms to announce efforts to support the response to the Beirut explosions.
Citi said in a memo sent to all the US bank’s employees in Emea on August 6 that it will donate $100,000 to support the cause.
Goldman Sachs, meanwhile, said in a memo to staff, also sent on August 6, that the bank would match amounts given to emergency appeals set up by the British Red Cross and Save the Children, and to Beit El Baraka, an organisation helping underprivileged families and elderly people in Lebanon.
Spokespeople at four other banks, including HSBC, said their businesses were still in discussions about how best to help those affected by the Beirut explosions.