During the second quarter of 2010: Improvement registered in performance of Libyan commercial banks.
According to recent data issued by the Central Bank of Libya, a marked improvement in the performance of local commercial banks was posted during the second quarter of 2010. In this context, total assets increased by 10.3% to 61.2 billion dinars, compared to 55.5 billion dinars at the end of the second quarter of last year. "The assets of the total liquid assets accounted for 70.5% or about 43.1 billion dinars, mostly in the form of deposits with the Central Bank of Libya", according to the data.
total loans and credit facilities grew from 10.7 billion dinars at the end of the second quarter of last year to 12.3 billion dinars at the end of the second quarter of this year, a rise of 15.1%.
An expansion of the volume of corporate deposits, public institutions, individuals and companies was registered from 45.5 billion dinars to 48.9 billion dinars, a growth rate of 7.3%. According to the central bank, savings deposits accounted for only 1.5%.
Finally, the value of credit opened during the first half of 2010, rose by about 1790 million, i.e. 33.5% to reach 7.1392 billion dinars, compared with those during the same period last year. (1 Libyan Dinar = 0.78 U.S. dollars)
- You don't need to be Muslim to practice? Why Goldman Sachs' sukuk sales worked so swell this around
- Erdogan's ready to smear the banks: is Turkey about to face a financial crisis worse than that of 2001?
- An economic slowdown? The pros and cons of Israel's weakening shekel
- A spectacle of $8 trillion and more: what's the MENA Investment Conference in London all about?
- An odd dynamic? Saudi using desert to emulate Chinese model and attract Chinese investors