According to Odea Bank’s official statement, released by the Beirut Stock Exchange, Odea Bank announced the successful completion of a TL 1.0 billion ($340M) capital increase, after obtaining necessary ... read more
According to Lebanon’s commercial banks’ balance sheet, total assets increased 2.35% year-to-date (y-t-d) y-o-y and 5.70% annually, from $180.08B by June 2015 to $190.36B by June 2016. On a year-to-date ... read more
The knowledge economy in Lebanon is continuing to attract new funds and stakeholders. The newest addition is Pheonician Fund I, a venture capital (VC) with a target size of $50M. On the 8th of August 2016, ... read more
According to the Central Bank of Lebanon, Lebanon’s Balance of Payments (BoP) witnessed a deficit increase from $1.32B in the first half (H1) of 2015 to $1.77B in H1 2016. Net Foreign Assets (NFA) of both ... read more
Bank Audi’s Turkish subsidiary, ODEA Bank, announced its results for the second quarter of 2016. As a result, the Bank’s financial statements revealed an uprise in its net profits from $6.93M in H1 2015 to ... read more
According to the Ministry of Finance, Lebanon’s fiscal deficit widened by 9.32% to reach $1.63B by April 2016, versus a deficit of $1.49B in the same period in 2015. In details, in the first four months of ... read more
According to Kafalat, the number of loan guarantees rose from 361 by July 2015 to 421 guarantees in July 2016. The overall value of the guarantees witnessed an increase of 15.67% to reach $58.47M by July ... read more
Lebanon’s gross public debt registered a yearly increase of 5.7%, to reach $72.9B by June 2016, its highest level this year. In details, debt in local currency, LBP, grasping around 60.4% of the total ... read more
According to the Ministry of Tourism, the number of tourists that visited Lebanon in the first half of the year (H1) increased by a yearly 7.70% and totaled 723,105. The progress witnessed in H1 2016 is ... read more
On the 21st of April 2016, the Lebanese Swiss Bank decided on increasing its capital from LP 70 billion to LP 90 billion, through the issuance of 200 million new ordinary shares, worth LP 100/share. as ... read more
The board of directors of Bank of Beirut (BoB) invites its shareholders to an extraordinary general assembly at the bank’s headquarters located in downtown Beirut, Foch Street. The meeting will take place ... read more
Since the Eid holidays were celebrated during the month of July, it was expected that airport traffic would increase in Lebanon. As such, the Rafic Hariri International Airport activity grew during July ... read more
In the first half of the year (H1 2016), BLOM Bank retained its strong standing in the sector by relying on its successful conservative approach and expansion strategy. BLOM posted the highest Return on ... read more
According to the Lebanese Central Banks’s (BDL) balance sheet, total assets recorded a month-on-month growth of 2.37% in July 2016 and a year-on-year growth of 11.98%, to reach $101.45B. Foreign assets ... read more
According to data retrieved from the Lebanese Customs, Lebanon’s trade deficit increased by 9.72% from $7.23B by June 2015 to $7.93B by June 2016. Accordingly, exports fell by a yearly 5.67% to $1.46B ... read more
According to Bank of Beirut ‘s (BoB) income statement, the bank’s consolidated net income reached $90.88M in June 2016, 2.17% higher than the same period last year. On the balance sheet, total assets rose ... read more
According to BEMO Bank’s income statement, the bank’s consolidated net income reached $7.30M in June 2016, 8.41% lower than the same period last year. This came about following the 0.8% slip in net ... read more
Bank Audi’s released financials indicated a rise in net profits of 11.66% year-on-year to reach $225.66M at the end of June 2016. As such, according to Bank Audi’s press release, the bank’s growth was ... read more
The bank’s profits were boosted by 6% year-on-year to $73.75M in the first Half (H1) of 2016, mainly due to lower provisions and higher gains generated on the financial instruments held by the bank. Byblos ... read more
Trade activity at Lebanon’s main customs offices observed fluctuations during the first five months of 2016. As stated by the Lebanese Customs, total imports grew yearly 10.87% to $7.86B by May 2016, due ... read more
According to BLC Bank’s income statement, the bank’s consolidated net income reached $19.5M in June 2016, 16% lower than the same period last year. This fall can be justified by the booking of additional ... read more
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