Lebanon’s broad money supply (M3) growth slowed to 6.4% y/y in October 2013 from 6.9% a month earlier, totalling LBP 1.643tn (USD 111bn) the central bank said. M3 growth remains underpinned mainly by strong bank lending, mainly to the private sector, and rising bank deposits. M2 grew 5.7% y/y in October, cooling from 6.4% the month before. M1 growth braked to a still high 10.8% y/y from 21.9% in September.
Loans to the private sector (resident and non-resident) grew 7.0% ytd to LBP 70.1tn at end-October. The dollarization rate of those loans stood at 76.7% and the ratio of total loans to total deposits reached 35.2%. Total bank deposits, including resident and non-resident private sector deposits and public sector deposits, increased 8.0% y/y and 5.7% ytd to LBP 203.5tn at end-October accounting for 84.0% of total assets.
Related Articles
Egypt and Russia finalise key agreements for Dabaa Nuclear Power Plant
Egypt has signed an agreement with Russia’s Rosatom to secure the nuclear fuel supply for Unit 1 of the Dabaa Nuclear Power Plant, Al Ahram reported on November 19. Officials said the agreement ... more
Egypt launches international bid round for gas exploration in Red Sea
Egypt’s Ministry of Petroleum and Mineral Resources has launched a new international bid round for oil and gas exploration in four offshore blocks in the Red Sea, according to Al Youm Al Sabea, ... more
BP expands gas output in Egypt’s West Nile Delta with new well start-up
British energy major BP (LSE, NYSE:BP) has started up the RW5 gas well in Egypt’s West Nile Delta (WND) project, adding around 80mn cubic feet per day of additional supply, Al Mal reported on ... more
Most Read
-
India’s smart metering push gains momentum
4 months ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago