File - Chairman of the Union of Arab Banks Joseph Torbey. (The Daily Star/Mohammad Azakir)
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Retail and personal loans in Lebanon valued over $17 billion at the end of 2015, up 3.25 percent from a year earlier, a leading banker said Thursday.Citing Central Bank statistics based on the consolidated balance sheets of Lebanese banks, Torbey said personal loans represented 30.7 percent of total loans granted by the Lebanese financial sector since the beginning of 2015 .He added that housing loans represented 61 percent of these personal loans, followed by 27 percent for consumer loans, 8 percent for car loans, 3 percent for credit cards and 1 percent for student loans.Torbey noted that 75 percent of the poor around the world do not deal with banks due to high costs and long distances.
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