Despite facing myriad financial obstacles over the past few years, the Lebanese banking sector has shown acceptable growth in 2011, according to the governor of Banque du Liban – Lebanon's central bank – Riad Salameh. This is demonstrated by deposits growing at more than 7% and bank credits rising by 15%.
While maintaining growth in key areas such as consumer, housing and construction, the country's banks have been able to continue their expansion strategies and maintain the record profit levels of 2010. The performance of Lebanon's banking sector in the face of unrest throughout the Middle East and north Africa has been, Mr Salameh believes, satisfactory and on a good trajectory going forward.
