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FINANCIAL NEWS
Lebanon has largest bank deposits share in region
27 Dec 2010
(MENAFN) Riad Salameh, the Governor of Central Bank in Lebanese, said that Lebanon had the largest share of bank deposits in 2010 compared to other banks in the Middle East, reported The Daily Star.
The governor said due to measures the Central Bank applied, Lebanon was able to benefit from the global financial crisis. He also said that Lebanon was able to stabilize prices at lower interest rates. As for inflation, the country had the lowest rate compared with emerging countries. This was reflected in a 20 percent increase in the size of loans in 2010 compared to 2009.
On a final note, the governor said that thanks to the lower interest rates, commercial banks in Lebanon recorded higher profits than in 2009.
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