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The Lebanese Banking Sector

Mon, Mar 10 2008, 15:58 GMT
by Credit Libanais Research Unit

Credit Libanais


The Lebanese Banking Sector

In the banking sector, the consolidated balance sheet of commercial banks in Lebanon revealed a 0.99% monthly expansion in total banking sector assets to LBP 125,227 billion as at end of January 2008, up from LBP 123,999 billion in December 2007.

Lebanon Raises $875 Million In A New Eurobond Issue

According to the Lebanese Ministry of Finance, Lebanon raised some $875 million in new Eurobonds with a maturity of five years aiming at refinancing maturing debt. The issue price was 99.508 bearing a coupon rate of 9.125%.

Activity On The Beirut Stock Exchange up to February 2008

According to the Beirut Stock Exchange (BSE) monthly bulletin, traded value expanded significantly by 20.87% on an annual basis in the first two months of 2008 to $121 million as at end of February. During the month of February alone, traded value fell by 23.26% year-on-year from $56.6 million in February 2007 to $43.4 million in February 2008.

Five Banks To Battle Over Bank De Caire License

According to Middle East North Africa Financial Network (MENAFN), the Egyptian Central Bank Committee approved five out of twelve submitted bids concerning the takeover of Bank De Caire.

Non-Farm Payrolls In February 2008

The U.S. Labor Department reported a 63,000 contraction in non-farm payrolls in February 2008, the lowest job growth since March 2003. February’s contraction in non-farm payrolls came in contradiction with U.S. economists’ expectations of 20,000 expansion.


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