(The Daily Star/Mohammad Azakir)
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BBAC expands despite tensionsIt has become a regular practice for leading Lebanese banks in recent years to eye other markets in the region to diversify their income and establish a foothold in promising countries. The bank maintained good results over the past few years despite the difficult economic and political conditions in Lebanon.We have achieved an increase in loan portfolio YOY by 12 percent – 4.5 percent to Alfa group," Assaf said.He projected net profits at the end of 2015 to surge by 5 to 8 percent, depending on amount of collective provisions the bank will take. BBAC has 39 branches in Lebanon and will open a new next week in Hazmieh/Baabda area. Assaf said the e-banking would play a prominent role in the future.However, despite the difficult political situation in Lebanon, the chairman was not too concerned about the monetary situation thanks to big foreign currency reserves held by the central bank.
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