Despite the tough economic and political challenges that Lebanon has been facing since 2011, the banking sector stayed hale and hearty, with assets exceeding 350% of GDP.
The Alpha Group of Banks, the top 14 Lebanese banks whose deposits exceed $2B, displayed intact yearly progresses in the first half (H1) of 2015.
Alpha Banks’ total assets, including that of subsidiaries in foreign countries, stood at $198.37B end of June 2015, posting a 7.57% year-on-year (y-o-y) growth. Assets in domestic branches expanded by an annual 7.07% to $158.96B, whereas those in foreign branches grew by 9.65% to $39.41B by June 2015. In details, net loans and advances to customers increased by 4.56% to $60.39B, where loans of domestic branches added 4.66% to $41.64B, while loans of foreign branches inched up by 4.35% to $18.75B end of H1 2015. Debt instruments at amortized costs increased by 8.41%, during the same period, to $61.82B. Part of the increase in debt instruments could be attributed to the subscription of the banks in the $2.2B Eurobonds issuance in February 2015. However, the ratio of Lebanese sovereign Eurobonds held by Alpha banks to deposits in foreign currency declined from 14.22% to 13.87% in June 2015…
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Alpha Banks – H1 2015 Performance