Banks street in Downtown Beirut, Tuesday, Aug. 26, 2014. (The Daily Star/Hasan Shaaban)
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Lebanon's largest 14 banks, better known as Alpha group, saw their net profits rise by 11.9 percent at the end of 2016, according to Bankdata Financial Services for the fourth quarter of 2016 .The total net profits of the 14 banks at the end of 2016 reached $2.270 billion, with Bank Audi taking the lead with a net income of $470 million, followed by BLOM Bank with $463 million and Fransabank's $201 million.The report stressed that the Alpha banks have recorded good performance in general despite what it termed as a tough operating environment.It also noted that the consolidated deposits saw reasonable growth last year.
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