The Lebanese banking sector was presented with many challenges in 2014. Not only did this sector have to deal with the ongoing repercussions from the Syrian spillovers, but it also had to manage a context where domestic growth is subdued and below potential, the security situation is fragile and the political deadlock is reigning.The list of challenges grows taller when we add the juggling act that banks have to do between profit making and new, stricter compliance rules. In spite of the numerous challenges, Lebanese banks achieved good results on all key parameters.
The consolidated balance sheet of commercial banks at the end of the year 2014 revealed a 9.3% year-on-year (y-o-y) growth in total assets to $217.5B. Both the domestic and the foreign activity of Lebanese banks progressed during 2014. Domestically, Lebanese banks registered a 7.7% growth while foreign activity grew by 17.1%, owing to the successful expansion led by Lebanese banks abroad…
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The Lebanese Banking Industry in 2014 Sound and Moderate Growth