Complex Made Simple

Lebanese bank deposits up 5% in H1 2013

The Association of Banks in Lebanon has announced that total deposits at Lebanese banks rose 5% in the first half of the year, The Daily Star has reported. Lending to resident and non-residents grew 3.2% despite deteriorating economic conditions in country and the region, said head of the association, Francois Bassil. Lending to the public sector increased 5.3 percent in the first half of the year, totalling $32.8bn. Assets grew by more than 4% to almost $158bn, Bassil added.