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banking

Aug 18

Lebanon banks suck in dollars to maintain peg, but economy stagnates

Lebanon banks suck in dollars to maintain peg, but economy stagnates

Lebanese banks are pulling out the stops to bring in dollars as the country strives to preserve a two-decade old currency peg, offering high returns to customers willing to change their hard currency into long-term Lebanese pound deposits.

It"...

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Aug 09

Report: Deposits in Lebanese Banks Exceed $170 Billion

Report: Deposits in Lebanese Banks Exceed $170 Billion

The financial results of the Lebanese banking sector saw growth in customer deposits and assets in the first six months of 2018 compared to the same period of last year, according to Bank Audi’s Lebanon Weekly Monitor.

“Lebanon’s"...

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Aug 08

Lebanese central bank governor urges fiscal reform

Lebanese central bank governor urges fiscal reform

Lebanon's pound is stable and the central bank has the means to defend its stability, central bank governor Riad Salameh said on Monday, urging fiscal reforms to reinforce monetary stability.

Salameh, in an interview with Reuters, said the central bank was not concerned"...

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Aug 08

Lebanese Pound Stable Despite Fragile Economy

Lebanese Pound Stable Despite Fragile Economy

Lebanon’s Banque Du Liban has announced that the pound is stable and the central bank has the means to defend its stability, urging fiscal reforms to reinforce monetary stability, reported Reuters.

Riad"...

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Aug 07

Lebanese central bank says pound stable, urges fiscal reform

Lebanese central bank says pound stable, urges fiscal reform

Lebanon’s pound is stable and the central bank has the means to defend its stability, central bank governor Riad Salameh said on Monday, urging fiscal reforms to reinforce monetary stability.

Salameh, in"...

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Aug 07

 CYPRUS: AstroBank completes USB takeover, boosts business by 55%

CYPRUS: AstroBank completes USB takeover, boosts business by 55%

AstroBank, the Lebanese-controlled lender formerly known as Piraeus Bank Cyprus, has completed the takeover of the business and staff of the smaller USB Bank, boosting the bank’s portfolio by 55% to total assets of “more than €2 bln, gross loans of €1.2 bln, customer"...

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Aug 02

Al Baraka Bank Lebanon kicks off core banking revamp

Al Baraka Bank Lebanon kicks off core banking revamp

Al Baraka Bank Lebanon, part of the Al Baraka Banking Group (ABG), is embarking on a core banking system conversion.

The bank focuses on Islamic financial services and has seven branches in Lebanon. It is a long-standing"...

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Aug 01

Bank Audi Consolidated Activity Highlights as at End-June 2018

Bank Audi Consolidated Activity Highlights as at End-June 2018

While Lebanon has witnessed in the first half of the year the early adoption of a 2018 public budget regularizing the state’s accounts and a number of successful international support conferences as well as the achievement of the parliamentary elections, the country’s economy"...

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Aug 01

Lebanon banking sector targeted by Iraq-based network: Lebanese official

Lebanon banking sector targeted by Iraq-based network: Lebanese official

A Lebanese security official said on Tuesday the Lebanese banking sector had been targeted by an Iraq-based network that tried to extort money from Lebanese banks and was uncovered in a joint operation with Iraqi authorities.

Earlier,"...

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Jul 24

STATS Taps Dr. Helen Sun, Former CTO of JPMorgan Chase Commercial Banking Division, to Lead STATS’ Technology Operations

STATS Taps Dr. Helen Sun, Former CTO of JPMorgan Chase Commercial Banking Division, to Lead STATS’ Technology Operations

Today, STATS, the worldwide leader in sports data and intelligence, expanded its executive roster with the introduction of Dr. Helen Sun as Chief Technology Officer. Sun will oversee STATS’ product, engineering, artificial intelligence and data production teams in developing the next"...

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