Good growth in deposits

Loans to residents witness increase

The consolidated balance sheet of commercial banks exceeded $159 billion at end-September 2013, according to figures released by the Association of Banks in Lebanon (ABL).

On an annual basis, the consolidated balance sheet grew by 7.3 percent, up from $148 billion at end-September 2012.

Private sector deposits of residents and non-residents reached more than $131 billion, up by about eight percent compared to the same period last year. Deposits in lira amounted to $45 billion, while deposits in foreign currencies totaled $86 billion.

Loans to the private sector went up by 8.5 year-on-year to more than $45 billion. Lending to the resident private sector reached $40.6 billion, witnessing a 9.8 percent increase. Loans to the non-resident private sector saw a 0.4 percent decrease to $5.3 billion.