Local banks' assets grow

Deposits grow slightly, reach $120 billion at end March 2012

The collective assets of commercial banks operating in Lebanon rose by three percent during the first quarter of 2012 to reach $144.7 billion.

Total private sector deposits came to $120 billion, posting two percent growth. Local currency deposits rose to almost $42 billion. Foreign currency deposits reached $77.3 billion, which includes $22 billion in non-resident deposits. Deposits' dollarization rate reached 65.38 percent.

Loans to the private sector totaled $41 billion up by around four percent in three months. Collective loans to deposits ratio stood at 34.7 percent.

The aggregate capital base of the banking sector stood at $11 billion, up from $9.5 billion in March 2011.

Reported by Hanadi Chami