According to the balance sheet of Banque du Liban (BDL), the central bank’s total assets added 14.19% compared to last year, to reach $187.27B by mid of January 2023. The increase was mainly due to the 45.70% year-on-year (YOY) rise in other assets, grasping 48.40% of BDL’s total assets and reaching $90.64B by mid of January 2023. Furthermore, the gold account, representing 9.38% of BDL’s total assets, increased by 4.45% yearly to reach $17.56B by mid of January 2023.
BDL’s foreign assets, consisting of 8.02% of total assets dropped by 15.22% YOY and stood at $15.01B by mid of January 2023, noting that BDL holds in its foreign assets $5B in Lebanese Eurobonds. On a different note, total volume of dollars injected into the market through Sayrafa platform reached $1.28B in the first two weeks of January 2023, however, the foreign assets of BDL decreased by $166.67M during the same period which indicates the Central Bank’s policy of absorbing dollars from the market instead of continuing full subsidies and support for the dollars.
On the liabilities front, financial sector deposits, representing 58.77% of BDL’s total liabilities, increased by 1.47% and reached $110.05B by mid of January 2023 compared to last year, of which more than two thirds are denominated in dollars.
Lastly, currency in Circulation outside of BDL, consisting of 23.79% of BDL’s total liabilities, added 45.74% annually to reach $44.55B by mid of January 2023; however, it dropped significantly by a bi-weekly 16.23% or $8.63B as a result of Central Banks’ announcement of which banks granted unlimited quota for individuals and corporate at Sayrafa rate of 38,000.
BDL Total, Foreign assets and Currency in Circulation by mid of January ($B):
Source: BDL, Blominvest