Fransabank in Hamra. (The Daily Star/Mahmoud Kheir)
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BEIRUT: The basic rules to achieving sound financial results for all institutions in Lebanon are simple: elect a president, achieve a reasonable economic growth, maintain security stability and embark on structural reforms.According to the Alpha Group for Statistical Consultancy, the 14 largest banks in Lebanon recorded a net profit of more than $1.8 billion in 2014, slightly higher than the results achieved in 2013 .The total assets of the Lebanese banking sector are over $170 billion – three times larger than the country's GDP. Bankers say that in 2015 growth in the banking sector will range between 6 to 7 percent. Ghobril did not believe that 2.5 percent GDP growth in 2015 would make a big difference for the banking sector.However, Ghobril said it is too difficult to project the profits of the banks this year.
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