File - The Secretary General of the Association of Lebanese Banks, Makram Sader poses for a photo in his office in Beirut, Lebanon, Thursday, Dec. 15, 2011. (Grace Kassab/The Daily Star)
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Lebanon's extended network has spread in the main cities of the mentioned countries; its 39 subsidiaries, partner or sister banks boast more than 240 branches which represent 25 percent of Lebanese bank outlets.Also, the volume of activity of the 16 Lebanese banks operating abroad has reached 17 percent of their consolidated total assets. Nevertheless, 12 foreign banks still operate in Lebanon, although their share does not exceed 2 percent of the domestic market. In addition, 11 representative offices of major international banks are registered in Lebanon, while 14 foreign lenders are stakeholders in large Lebanese banks with deep-rooted Lebanese management. First, the more than 40 years of experience Lebanese banks have had in foreign markets should not be underestimated.
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