Prime Minister Saad Hariri heads an economic conference in Beirut, March 20, 2018. (The Daily Star/Mohamad Azakir)
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Lebanon's 15 largest banks in terms of assets and deposits saw their net profits rise by 6 percent to $2.4 billion in 2017, according to Bankdata Financial Services for full-year 2017 .The report further added that 2017 was a year of modest growth for the Lebanese banking sector, due to the resignation of Prime Minister Saad Hariri in November last year.The report added that the return on average assets stabilized at 1.06 percent in 2017, while the return on average common equity dropped from 12.81 percent to 12.57 percent, below the cost of equity of Alpha banks.
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