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Lebanese lenders confident can weather downturn
- Lebanon: Sunday, November 04 - 2012 at 03:48
Bankers in Lebanon have said high levels of liquidity, steady growth in customer deposits and increasing provisions for non-performing loans will allow lenders in the country to override the negative effects of the economic slowdown, The Daily Star has reported. "There is no cause for concern. Banks are still attracting deposits at rates that are higher than the GDP growth," Joe Sarrouh, the adviser to the chairman of Fransabank, told the daily. "The banks are expected to register a growth of nearly 7% this year compared to a 1% GDP growth," he added.
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