BEIRUT: The consolidated balance sheet of financial institutions operating in Lebanon was up by LL82.12 billion ($54.48 million) during the month of November 2012 to LL1.833 trillion, up from LL1.751 trillion in October.

This owes in the first place to the 7.18 percent increase in claims on the private sector to LL960.48 billion. On an annual basis, the balance sheet of financial institutions widened by 11.56 percent, from LL1.643 trillion in November 2011.

The number of financial institutions incorporated in Lebanon has increased from 29 in the year 2004 to 53 in the first quarter of 2012.

On the lending front, claims on the private sector, which constitute 52.37 percent of financial institutions’ assets, rose markedly by 17.25 percent year-on-year to LL960.48 billion at the end of November 2012, from LL819.19 billion in November 2011.