Thursday, December 8, 2011

Moody?s turns negative on Lebanese banks

The ratings agency says the risks arise from (i) slower economic growth, following a sharp deceleration in H1 2011; (ii) downside economic risks, due to regional political uncertainty, particularly in neighbouring Syria; and (iii) banks? exposures to other regional countries that are experiencing political unrest and/or economic slowdown (including Egypt and Jordan).

Lebanese banks? profitability will come under pressure over the outlook horizon, as subdued business activity will cause a slowdown in credit growth and fee-generating income
� 2011 CPI Financial. All rights reserved.

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Source: http://www.albawaba.com/moody%E2%80%99s-turns-negative-lebanese-banks-404592

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