The BLOM Bank in Beirut. (The Daily Star)
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Lebanon's largest 14 banks saw their combined profits in the first quarter of 2014 fall by 2.6 percent while domestic net profits dropped by 5 percent.It added that the annual growth in assets between March 2013 and March 2014 was tied to a 7.4 percent growth in domestic activity, while foreign activity grew by 17.3 percent.In parallel, customer deposits reported domestic growth of 6.7 percent compared with a growth of 19.4 percent in foreign entities, while loans grew by 6.5 percent domestically and 36.6 percent abroad.On the other hand, domestic loans in the Lebanese pound increased much more than foreign currency loans, respectively growing by 15.4 percent and 3.9 percent in the year up to March 2014 .
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