BDL’s Foreign Reserve Assets Stand at $11.9B after a $92.14M Decrease in the Last Two Weeks of December 2025

According to Banque du Liban’s (BDL) balance sheet, the Central Bank’s total assets increased by 1.06% Year-on-Year (YoY), reaching $93.93B by end-December 2025.

Furthermore, the gold account, representing 42.98% of BDL’s total assets, increased by 67.51% yearly to reach $40.4B by end-December 2025. Regarding foreign assets item, recently BDL amended it and replaced it by foreign reserve assets item to include only non-resident and liquid foreign assets. Thus, other resident and / or illiquid assets were transferred to securities portfolio or loans to local financial sector. In more details, Lebanese Government Eurobonds with a nominal value of $4.85B were transferred to securities portfolio; whereas $298.8M was transferred to loans to financial sector. As such, BDL foreign reserve assets, consisting of 12.66% of total assets (after transferring the Eurobonds to securities portfolio and the other resident and / or illiquid assets to loans to financial sector) rose by 17.37% YoY and stood at $11.9B by end-December 2025. Additionally, foreign reserve assets decreased by $92.14M in the last two weeks of   December 2025.

On the liabilities front, financial sector deposits, representing 88.43% of BDL’s total liabilities, decreased by 2.64% annually and reached $83.1B by end-December 2025 compared to last year, of which more than 90% are denominated in dollars. Moreover, public sector deposits, representing 9.19% of BDL’s total liabilities, rose by 44.65% yearly and reached $8.63B by end-December 2025. Lastly, currency in circulation outside of BDL, consisting of 0.85% of BDL’s total liabilities, rose by 9.09% annually to reach $799.2M by end-December 2025.

It is interesting to note that capital accounts consisting of 1.23% of BDL’s total liabilities, increased significantly by 66.32% to reach $1.2B by end-December 2025. This rise is likely attributable to the recognition of BDL’s annual profits, which amounted to $461.1M for the year, boosting capital accounts towards the close of 2025.

BDL Total Assets, Foreign Reserve Assets and Currency in Circulation by End-December ($B):

_{Source: BDL, BLOMINVEST}

N.B.: The foreign assets figures of 2024 and 2025 in the above graph are net of Lebanese Eurobonds.

Disclaimer:

This article is a research document that is owned and published by BLOMINVEST Bank SAL.

No material from this publication may be modified, copied, reproduced, repackaged, republished, circulated, transmitted or redistributed directly or indirectly, in whole or in any part, without the prior written authorization of BLOMINVEST Bank SAL.

The information and opinions contained in this document have been compiled from or arrived at in good faith from sources deemed reliable. Neither BLOMINVEST Bank SAL, nor any of its subsidiaries or affiliates or parent company will make any representation or warranty to the accuracy or completeness of the information contained herein.

Neither the information nor any opinion expressed in this research article constitutes an offer or a recommendation to buy or sell any assets or securities, or to provide investment advice.

This research article is prepared for general circulation and is circulated for general information only.