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Challenging operating conditions to face Lebanon’s banking sector

: Monday, September 01 - 2014 @ 09:00

Standard & Poor’s estimated that banks operating in Lebanon would continue to face unstable and challenging operating conditions during the 2014-15 period, Byblos Bank ‘Lebanon This Week’ reported. It indicated that the protracted domestic and regional political turmoil has negatively affected domestic policy- making, weighed on business confidence and delayed the economic recovery, iloubnan revealed. It added, more specifically, that Lebanon remains vulnerable to the evolving conflict in Syria. However, it considered that Lebanese banks are poised for a recovery if political and geopolitical risks recede, given the country’s economic growth potential, supportive demographics, an educated workforce, as well as increasing financial inclusion and product sophistication. It noted that the domestic banking sector, unlike the country’s political institutions, has coped well with the prevailing challenging conditions.

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Monday, September 1- 2014 @ 9:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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