According to Lebanon’s consolidated commercial banks’ balance sheet, total assets decreased by 6.62%, year-to-date (y-t-d), and stood at $175.59B in November 2021, according to Lebanon’s consolidated commercial banks’ balance sheet.
In details, resident customers’ deposits (which grasp 58.77% of total liabilities) decreased since December 2020 by 6.39% to $103.19B in November 2021, with deposits in LBP down ticked by 4.99% to $23.21B while the deposits in foreign currencies declined by 6.79% to stand at $79.98B.
As for Non-resident customers’ deposits grasping 14.12% of total liabilities, they recorded a drop of 9.37% and stood at $24.78B over the same period. In details, the deposits in LBP retreated by 8.86% to reach $2.05B while deposits in foreign currencies declined by 9.42% and totaled $22.73B in November 2021. More importantly, the dollarization ratio for private sector deposits decreased from 80.09% in October 2021 to 79.96% in November 2021. In addition, Non-resident financial sector Liabilities held 2.81% of total Liabilities and dwindled by 24.95% to reach $4.94B y-t-d.
On the assets side, Reserves, constituting 62.69% of total assets, recorded a y-t-d downtick of 1.30% to settle at $110.08B in November 2021. Deposits with the central bank (BDL), grasping 97.38% of total reserves, witnessed a slight y-t-d decrease of 2.93% to reach $107.17B.
Meanwhile, Claims on resident customers, constituting 14.19% of total assets, shrank by 21.58%, to stand at $24.91B in November 2021. Moreover, Resident Securities portfolio (11.51% of total assets) dropped by 10.05% during November to stand at $20.20B. Specifically, the Eurobond holding recorded a decline of 39.97% and totaled $5.63B for the same period, as banks are selling their Eurobonds to shore up their foreign currency liquidity.
Commercial Banks Assets and Residents Customer Deposits by November ($B)
Source: BDL. BLOMINVEST