Top Lebanese lenders report lower quarterly income

June 10, 2014 1:25 am

According to data released by Lebanon’s Bankdata Financial Services, the country’s largest 14 banks saw their combined profits in the first quarter of this year fall by 2.6%, while domestic net profits dropped by 5%, The Daily Star has reported. Total profits of the banks, which are better known as the Alpha Group, in the first quarter of this year stood at $430m, with both BLOM and Audi making a total profit of $174m. Customer deposits of this group, meanwhile, exceeded $2bn in the first three months of this year, said the report.