Lebanon: banking news
The consolidated balance sheet of commercial banks for 2000 indicates the following:
Total assets reached $45.034 billion, a 10.97 percent increase from 1999.
Customer deposits totaled $37.63 billion, up 10.44 percent from the previous year.
The dollarization rate of deposits was 66.88 percent compared to 61.77 percent in 1999.
Loans to the private sector amounted to $14.75 billion, a 5.87 percent rise year-on-year.
The dollarization rate in lending reached 87 percent compared to 88.11 percent in 1999.
The ratio of loans to deposits in foreign currencies stood at 51 percent well below the Central Bank’s limit of 70 percent, while the same ratio in Lebanese Lira was 15.38 percent. The ratio of total loans to deposits stood at 39.21 percent.
The lower rates of increase in assets and customer deposits compared to previous years continue to reflect the prevailing economic slowdown in the country.
Bank of Beirut and the Arab Countries SAL, a medium-size bank, opened a branch in the Southern town of Hasbaya. BBAC became the second Lebanese bank after Al-Mawarid Bank to open a branch in the town since its liberation from Israeli occupation last May. BBAC also inaugurated the previous week a branch in the liberated town of Bint Jbeil. Fransabank was the only bank to function in the South during the occupation years with branches in Jezzine, Bint Jbeil and Marjeyoun. BBAC’s net profits totaled $9.34 million in 1999.
The Central Bank’s concise balance sheet reached LL16,590.313 billion in the first half of
February compared to LL16,641.632 billion at the end of January.
Assets in foreign currencies increased by $53.97 million to $6.022 billion from $5.968 billion at the end of January. Assets in foreign currencies declined by $1.664 billion last year and increased by $1.189 billion and $486.78 million in 1999 and 1998 respectively. — ( Lebanon Invest )
© 2001 Mena Report (www.menareport.com)