Lebanon’s banks enjoy healthy performance despite challenges

Lebanon's banks enjoy healthy performance despite challenges

Lebanon’s banking sector is proving remarkably resilient in the face of ever-growing political and economic pressures affecting the country, brought about in the main by the civil war raging in neighbouring Syria. Although the current climate surrounding the vibrant finance sector is a tough one, the banking sector appears bang on the money, weathering the instability with a great deal of success, even despite experiencing a slight fall in profits.

According to the Economic Research & Analysis Department of Byblos Bank, Lebanon’s central bank projected real GDP growth in the country at between 2% and 4% in 2013. This compared to average growth rates of 2% between 2011 and 2012 and 8% between 2008-2010. Continue reading