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FINANCIAL NEWS
Lebanese banks’ deficit hits USD1.319b in H1
23 Aug 2015
(MENAFN) Net foreign assets of Lebanon’s financial sector recorded a deficit of USD1.319 billion during the first half of the year, compared to a surplus of USD216.1 million during that same period last year.
The figure is attributed to the staggering increase in the deficit at banks and financial institutions, which neared USD3.15 billion and fully wiped out the USD1.83 billion surplus in the net foreign assets of the Central Bank.
Moreover, net foreign assets recorded a deficit of USD794.3 million during the month of June 2015, compared to a surplus of USD189.2 million in May, a surplus of USD136 million in April, and a deficit of USD417.4 million in March.
June’s deficit comes as a result of the USD351.5 million deficit in the net foreign assets of the Lebanese Central Bank and the USD443 million deficit in the net foreign assets of banks and financial institutions.
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