As­sets of com­mer­cial banks reach $209B at end of July

The Daily Star (Lebanon) - - BUSINESS -

BEIRUT: The con­sol­i­dated bal­ance sheets of Le­banese com­mer­cial banks through July 2017 reached $208.5 bil­lion, an in­crease of 2 per­cent over the same pe­riod in 2016.

At the same time, loans to the pri­vate sec­tor reached $58.6 bil­lion, up by 2.5 per­cent from end-2016 and by 4.5 per­cent from a year earlier.

“Loans to the res­i­dent pri­vate sec­tor reached $52.9 bil­lion, con­sti­tut­ing an in­crease of 3.6 per­cent from end-2016 and a rise of 6.7 per­cent year-on-year; while credit to the non­res­i­dent pri­vate sec­tor to­taled $5.7 bil­lion at end-July 2017 and re­gressed by 6.9 per­cent from end2016 and by 12 per­cent from a year earlier,” ac­cord­ing to By­b­los Bank’s Le­banon This Week pub­li­ca­tion.

Cus­tomer de­posits in­creased 3.6 per­cent in the first seven months of the year to reach $168.4 bil­lion, and were up by 8.6 per­cent com­pared to the same pe­riod in 2016.

“De­posits in Le­banese pounds reached $55.8 bil­lion at end-July 2017, up by a mar­ginal 0.4 per­cent from end-2016 and by 2.4 per­cent year-on-year; while de­posits in for­eign cur­ren­cies to­taled $112.6 bil­lion and grew by 5.3 per­cent from end2016 and by 12 per­cent from endJuly 2016,” the re­port said. The dol­lar­iza­tion rate of de­posits was 66.9 per­cent at the end of July 2017, com­pared to 66.7 per­cent at end-June 2017 and 64.9 per­cent a year prior.

It added that non­res­i­dent de­posits reached $6.7 bil­lion at the end of July 2017, an in­crease of 6.3 per­cent from end-2016 and 9.3 per­cent from a year earlier. “Fur­ther, the de­posits of com­mer­cial banks at Banque du Liban to­taled $92.7 bil­lion at end-July 2017, con­sti­tut­ing an in­crease of 3.8 per­cent from end2016 and a growth of 21 per­cent from a year earlier,” the re­port said.

“In nom­i­nal terms, credit to the pri­vate sec­tor grew by $1.4 bil­lion in the first seven months of 2017 rel­a­tive to an in­crease of $1.8 bil­lion in the same pe­riod of 2016. Lending to the res­i­dent pri­vate sec­tor in­creased by $1.86 bil­lion in the first seven months of 2017, rel­a­tive to a growth of $1.5 bil­lion in the same pe­riod of 2016, while credit to the non­res­i­dent pri­vate sec­tor de­creased by $423.2 mil­lion in the first seven months of the year com­pared to an in­crease of $317.1 mil­lion in the same pe­riod of 2016,” it said.

Newspapers in English

Newspapers from Lebanon

© PressReader. All rights reserved.