Hope on the horizon for Lebanese banks

World Finance

The political situation in Lebanon may be uncertain, but in the past, the country’s banks have proven themselves to be resilient entities capable of thriving in adversity

In a region that has been marked by continuous turmoil, especially over the last three years, Lebanese banks have been a story of remarkable resilience and solid growth. The sector has bucked the regional trend and expanded in all aspects. In the period 2010-2012, i.e. since the start of the Arab Spring phenomenon, Lebanese banks’ assets have seen an average annual growth of 9.7 percent, while private sector deposits expanded at an average annual growth of 9.3 percent, and loans to the private sector recorded an annual average growth of 16.2 percent.

Source: World Finance
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