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Statistics 459

Consolidated balance sheet of commercial banks in Lebanon shows that total assets reached $139.5bn at the end of October 2011, constituting an increase of 8.2% from end-2010 and a rise of 10.2% from end-October 2010.
 

Private sector deposits totalled $114.2bn, increasing by 6.5% from end-2010 and rising by 9.6% from year earlier. Deposits in Lebanese pounds reached $38.5bn, down 2.3% from end-2010 and 1% year-on-year, while deposits in foreign currencies totaled $75.7bn and rose by 11.7% from the end of last year and by 15.9% from end-October 2010.
 

Non-resident foreign currency deposits totaled $18bn at end-October 2011, up by 15.7% from end-2010 and by 24.3% year-on-year. Total private sector deposits decreased by $1.1bn in January, and rose by $673m in February, $1.34bn in March, $1.79bn in April, $539m in May, $1bn in June, $656m in July, $813m in August, $440m in September and $798m in October 2011. In parallel, deposits of non-resident banks reached $6.5bn, an increase of 44% from end-2010 and of 27.1% year-on-year.
 

The dollarization rate of deposits reached 66.3% at the end of October relative to 63.2% at end-2010 and 62.7% at end-October 2010. Further, the average deposit rate in Lebanese pounds reached 5.6% in October, down from 5.72% a year earlier, while the same rate in US dollars was 2.82% compared to 2.81% in October 2010.
 

Loans to the private sector totaled $39.2bn at end-October, constituting an increase of 12.3% from end-2010 and up 14% year-on-year.

Lending to the non-resident private sector reached $5.7bn and rose by 23.9% from end-2010. The dollarization rate in private sector lending reached 78.9%, marginally down from 80.3% at end-2010 and compared to 81.1% a year earlier.
 

The average lending rate in Lebanese pounds was 7.27% in October 2011 compared to 8.15% a year earlier, while the same average in US dollars was 6.74% compared to 7.08% in October 2010. In addition, claims on non-resident banks reached $14.5bn at end-October, posting a decrease of 8.6% from end-2010.
 

Claims on the public sector stood at $29.9bn, up 4.5% year-on-year and 1.9% from end-2010, and accounted for 43.2% of the banking sector's total claims. The ratio of private sector loans to deposits in foreign currencies stood at 40.9%, well below the Central Bank's limit of 70%, and below the ratio of 42.7% a year earlier.

In parallel, the same ratio in Lebanese pounds was 21.5%, up from 16.7% a year earlier. The ratio of total private sector loans to deposits was 34.4% compared to 33% a year earlier. The banks' aggregate capital base stood at $10.5bn, up by 13.3% from end-2010 and 15.2% from $9.1bn in October 2010.Lebanon This Week, Byblos Bank’s economic publication.
 

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ECO INITIATIVES

  • A fundraising event, entitled Think Green, will be held by Zero Waste ACT for all its business members on September, 10,2013, at WHITE, Dora.
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  • A green initiative launched by Ashrafieh 2020 project aims to transform Ashrafieh into a tranquil and unpolluted area.Green spaces allow residents to walk and ride bicycles.

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