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
Iraq holds talks with Excelerate Energy on buying first LNG from US
Iraq is in the final stages of negotiating its first-ever purchase of LNG supplies as power outages hamper the Middle East country, Bloomberg reported on June 26. Dallas-headquartered Excelerate ... more
Reformist Kamil al-Tayeb Idris appointed as Sudan’s new Prime Minister
Sudan’s Sovereign Council head, Abdel Fattah al-Burhan, issued a constitutional decree on May 19 appointing Kamil al-Tayeb Idris as the new prime minister, Al Sharq Al Awsat reported. He also ... more
Egypt examines LNG supply offers from Saudi Aramco, UAE’s Adnoc, Algeria’s Sonatrach, and QatarEnergy
Egypt's state-owned gas company EGAS has received several offers to supply liquefied natural gas (LNG) shipments urgently needed for summer, Al Sharq reported on May 18, citing an unnamed government ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
10 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago