BEIRUT: Total deposits at Lebanese banks grew 5 percent in the first half of the year, head of the Association of Banks in Lebanon Francois Bassil said Thursday. Bassil, who was speaking at the Media Economic Forum 2013 held in Beirut, said lending to resident and non-residents increased 3.2 percent in spite of deteriorating economic conditions in Lebanon and the region.
Lending to the public sector increased 5.3 percent in the first half of the year, totaling $32.8 billion. Assets, Bassil added, grew by more than 4 percent to almost $158 billion.
The Capital Adequacy Ratio reached 11.62 percent in the first half of the year. While down from the 11.76 percent recorded earlier this year, it is still higher than Basel III’s 8 percent requirements.
Senior speakers at the forum, which focused on the impact of journalism on the business and banking sector, included head of the Economic Committees Adnan Kassar, head of the World Union of Arab Bankers Joseph Torbey and caretaker Information Minister Walid Daouk.