Lebanese banks target Iraq and Libya as home market stalls

Reuters

Lebanon's biggest bank, Bank Audi , will launch operations in Iraq next year and its rival Byblos Bank is to enter the Libyan market as both contend with a flagging domestic economy.

Domestic operations have become increasingly important for Lebanese banks hit by falling returns in war-torn Syria, traditionally their biggest international market. However, Lebanon's slowing economic growth has forced its banks to look farther afield.

Source: Reuters FULL STORY