Banking ranking

▪ BLOM first in total profits

▪ Audi top in assets

▪ Lebanese Swiss record deposit growth

▪ IBL most efficient in using resources

The consolidated assets of commercial banks grew by 13.5 percent year-on-year to nearly $250 billion at the end of 2018. The banks managed to increase their deposits, albeit moderately, despite the tough conditions they faced. The sector’s consolidated customer deposits grew by $5.6 billion, or 3.3 percent compared with 2017. The banks’ consolidated loans to the resident private sector contracted by $1.3 billion in 2018, while loans to non-residents increased by $1 billion. The banks’ profitability was affected by the rising costs of funds, the decline in lending to the private sector, and the adverse effects of domestic tax hikes. The consolidated net profit of the 16 largest banks (Alpha Group) dropped 5.5 percent year-on-year. Only one of the 25