According to the balance sheet of Banque du Liban (BDL), the central bank’s total assets added 4.52% compared to last year, to reach $163.45B by mid of November 2021.The increase was mainly due to the 28.97% year-on-year (YOY) rise in other assets, grasping 37.15% of BDL’s total assets and reaching $60.72B by mid of November 2021. Meanwhile, the gold account, composing 10.52% of BDL’s total assets, slightly decreased by 0.84% yearly to reach $17.19B by the same period.
BDL’s foreign assets (grasping 11.26% of total assets) decreased by 27.12% YOY to stand at $18.40B by mid of November 2021. In details, this account mostly includes Eurobonds held by the Central Bank, and reserves that BDL possesses with foreign correspondents. However, Eurobonds are currently trading on average at 15 percent per dollar while they are registered with a larger value on the Central Bank’s balance sheet.
On the liabilities front, financial sector deposits (64.88% of BDL’s total liabilities) recorded a downtick of 1.49% YOY to settle at $106.05B by mid of November 2021, of which more than two thirds are denominated in dollars.
Looking at Currency in Circulation outside of BDL (17.37% of BDL’s total liabilities) it increased by 56.90% jumping from $18.09B by mid of November 2020 to $28.38B mid of November 2021.
BDL Total, Foreign assets and Currency in Circulation mid of November ($B)
Source: BDL, BLOMINVEST