Assets of banks still growing

Total loans to public sector
unchanged in first half at $30 billion

The total consolidated assets of commercial banks rose by 3.8 percent during the first six months of 2012, standing at $146 billion at end-June.

Total deposits grew by 3.6 percent to $122 billion. Deposits constituted 83 percent of the assets of banks.

Loans to resident and non-resident private sector grew by six percent to $42 billion. The dollarization rate of these loans decreased to 78 percent, and the ratio of loans to deposits was at 35 percent.

Total claims on the public sector reached $29.5 billion, almost unchanged. At end-June, banks held $12.8 billion of Eurobonds, nearly 63 percent of the total outstanding portfolio, and $16.5 billion of lira-denominated treasury bills, around 51.8 percent of the total portfolio.

Total consolidated assets of investment banks amounted to $4.1 billion, down by two percent from end-2011. The decrease was associated with a 13 percent expansion in capital accounts offset by a 4.8 percent drop in private sector deposits.


Reported by Hanadi Chami