Thursday, December 29, 2011

Lebanon banks? 2012 growth hinges on regional changes

When the financial crisis ravaged the global economy in 2009, Lebanon?s banking sector profited from relative domestic political stability to achieve record-high growth. However, 2011, unlike any year in the past decade, has put the country?s resilient banking sector under pressure on three fronts simultaneously.

The turmoil in Syria, which is weighing on Lebanese banks operating there, will have minimal impact on banks because the affiliates account for a small percentage of profits, Nassib Ghobril, head of Economic Research at Byblos Bank said
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Source: http://www.albawaba.com/banks%E2%80%99-2012-growth-hinges-regional-changes-407127

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