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Lebanese bank assets rise nearly 4%

The Chairman of Lebanon's Byblos Bank, Francois Bassil, has said the performance of Lebanese banks remained relatively strong in the first four months of 2011, The Daily Star has reported. Total assets of Lebanon's 12 leading banks grew by almost 4% since the same period of 2010 and 11.6% in the first quarter of this year. Customer deposits grew by 3.8% over the quarter and 13.4% year-on-year, representing a sustained healthy performance, although at a slower pace than seen over the past few years, Bassil said. Evidently, given the market pressures at the beginning of the year, the rise was almost fully accounted for by the foreign currency side, he noted.