Complex Made Simple

Assets held by Lebanese banks up 8% since last year

The total assets held by Lebanese commercial banks grew 8.07% to $144.86bn by the end of May 2012, compared to the same month a year earlier, and 3.05% from December 2011, The Daily Star has reported. Claims on resident and non-resident private sectors grew at a faster pace than deposits, jumping by 6.39% from the year's start and 11.87% year over year to $41.89bn. Private sector deposits stood for 82.08% of total assets reaching $118.9bn, up by 7.63% from May 2011 and 2.75% from the year's start, the report said.