imported 2024-03-17 17:43:07
In 2010, Lebanese economy is going to record the same growth as in 2009. Banking sector in Lebanon is the backbone of the economy and, due to strong Central bank policy adopted in 1992, it is not exposed to the global crisis.
The banking sector in Lebanon is one of the strongest in the region, based on solid fundamentals namely high liquidity, strict and stringent regulation by the central bank and strong policies that have been evolving in line with market needs and trends. The sector represents the backbone of the Lebanese economy Mohammed Hariri , president and CEO of BankMed
BankMed has become one of the leading banks in Lebanon because of its strategy. Over the past few year the equity has been doubled with a vision to challenge the top 2 players in the market within the next few years. Mr. Hariri provides his vision of BankMed.
For the past few years we had a different strategy to be closer to our clients and give them access to our global network and we also offer very competitive pricing compared to the other players in Lebanon.
I would like to see increased economic real absorption capacity to process properly the in flows of capital to Lebanon not just being obliged to sterilize deposits coming into Lebanon banking sector.
My overall assessment is that the Lebanese banking sector is sound and robust financially and compliant with international standards. It is a combination of modern and traditional banking whereby the family ownerships still play and important role in the governance of banks in Lebanon.
“We’re going to maintain the model on which we have worked because this model is guaranteeing low leverage in our banking sector. “
My aim is to increase our equity, which has doubled since 2005. Also, I would like to double our assets and be a leader in the strategic business lines we have targeted.
The Lebanon banking sector has grown markedly over the last years with total assets nearing $120 billion as at the end of the first quarter of 2010, customer deposits exceeding the $99 billion mark and loans to the private sector firming at $25.79 billion.
Largest Bank in Lebanon, Bank Audi, CFO and Strategy Director, Dr. Freddie Baz
Bank Audi want to be present in a big number of markets as a major regional player. We have proven our capacity to grow organically but we have also proven our interest and aptitude for inorganic growth through our track record with acquisitions and our capability to generate quick synergies.
