Banking Sector in Lebanon: Non-Performing Loans to Increase in 2012

During the last 4-5 years, non-performing loans went down from 8% to about 2.9% and to 3.7% in 2011. Blom Bank’s Chairman and GM sees increase in non-performing loans in 2012 due to events in Syria and Egypt.

Despite the increase in NPLs, Saad Azhari argues that “the 3 main banks (Bank Audi, Blom Bank and Byblos Bank) listed on the stock market have published the results of the first quarter and all 3 have witnessed a slight increase in profits in the first quarter of 2012.”