Bank assets up to end-April

y-t-d total assets of commercial banks slightly rise, investment banks contract

June 23, 2011- Total consolidated assets of commercial banks rose to L.L.201,700 billion ($133.8 billion) at the end of April 2011, increasing by one percent in one month and by 3.8 percent in the first four months of the year.

Figures released by the Association of Banks in Lebanon (ABL) showed that total deposits at commercial banks, including resident and non-resident private sector deposits and public sector deposits, rose by 2.7 percent in the first four months of 2011 reaching L.L.168,108 billion (around $111.5 billion).

The private sector deposits denominated in lira decreased by 5.6 percent from end December 2010, while those denominated in foreign currencies increased by 7.3 percent. The deposit dollarization rate was 66 percent at the end of April 2011, up from 63 percent at the end of December 2010.

Total consolidated assets of investment banks (including medium and long term credit banks) slightly contracted to L.L.7,165 billion (around $4.8 billion) at the end of April 2011, dropping by 0.3 percent in one month and by 9.2 percent compared to December 2010.