DOCSLIB.ORG

Annual Report 2016

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2016 TABLE OF CONTENTS THE YEAR IN BROAD STROKES ...................................................................................................................................................................... 3 Financial Highlights ................................................................................................................................................................................................................................................... 4 A Message from the Chairman ................................................................................................................................................................................................. 6 The Lebanese Economy in 2016 ......................................................................................................................................................................................................... 8 PROFILE OF THE GROUP .............................................................................................................................................................................. 15 OPERATIONS AND GOVERNANCE ....................................................................................................................................................... 19 Year in Review ........................................................................................................................................................................................................................................................................... 20 Board of Directors Member Profiles ............................................................................................................................................................................. 26 Board of Directors Committees ................................................................................................................................................................................................. 30 Remuneration Policy and Practices ....................................................................................................................................................................................... 31 Management Committees ................................................................................................................................................................................................................. 32 Organizational Chart ........................................................................................................................................................................................................................... 36 Group Chart ..................................................................................................................................................................................................................................................... 38 PERFORMANCE REVIEW .............................................................................................................................................................................. 39 Key Financial Data ................................................................................................................................................................................................................................... 40 Management Discussion and Analysis ...................................................................................................................................................................... 43 Consolidated Financial Statements ............................................................................................................................................................................... 76 DIRECTORY ................................................................................................................................................................................................................................... 203 Primary Correspondent Banks .......................................................................................................................................................................................... 204 Group Addresses ................................................................................................................................................................................................................................. 205 1 BYBLOS BANK S.A.L. ANNUAL REPORT 2016 2 THE YEAR IN BROAD STROKES 3 Byblos Bank S.A.L. The Year in Broad Strokes FINANCIAL HIGHLIGHTS TOTAL ASSETS Evolution of Total Assets During Last Ten Years 22,000 20,000 18,000 16,000 14,000 12,000 10,000 USD Million 8,000 6,000 9.12% 4,000 2,000 9,486 11,230 15,288 16,602 18,485 19,035 19,870 20,812 13,576 17,015 0 Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Assets CUSTOMERS’ DEPOSITS Evolution of Customers’ Deposits During Last Ten Years 18,000 16,000 14,000 12,000 10,000 8,000 USD Million 6,000 9.98% 4,000 2,000 8,363 10,286 12,820 13,384 15,715 16,637 17,102 7,262 11,927 14,749 0 Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Deposits 4 Byblos Bank S.A.L. The Year in Broad Strokes NET CUSTOMERS’ LOANS Evolution of Customers’ Loans During Last Ten Years 5,500 5,000 4,500 4,000 3,500 3,000 2,500 USD Million 2,000 1,500 9.80% 1,000 500 2,233 2,790 3,771 4,008 4,511 4,728 4,932 5,179 3,197 4,120 0 Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Loans TOTAL EQUITY Evolution of Total Equity During Last Ten Years 2,100 1,800 1,500 1,200 900 USD Million 600 8.69% 300 2,083 984 1,831 1,852 1,922 1,963 1,991 1,494 1,926 1,270 0 Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Equity NET INCOME Evolution of Net Income During Last Ten Years 200 180 160 140 120 100 80 USD Million 60 5.84% 40 20 99 122 178 180 156 175 161 165 146 167 0 Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Income 5 Byblos Bank S.A.L. The Year in Broad Strokes A MESSAGE FROM THE CHAIRMAN Dear Stakeholders, Byblos Bank posted satisfactory net profits of USD 165.3 million in 2016, an increase of 2.4% over 2015. This performance is directly aligned with the risk appetite mandated by the Board of Directors, whose priority has been to focus on bolstering the Bank’s financial strength as a safeguard against unstable environments at the local, regional, and global levels. This strategy resulted in several achievements in 2016. For one thing, the Bank increased its immediate foreign currency liquidity – in the form of short-term placements with higher-than-investment-grade institutions – to 16.6% of foreign currency deposits, easily surpassing both internal and international benchmarks. For another, Byblos Bank posted a Basel III Capital Adequacy Ratio above 18% at end- 2016, easily exceeding the regulatory requirement of just 14%. In addition, the Bank successfully maintained loan quality and ensured adequate provisioning during the year, all while continuing our policy of closely monitoring potential risk across the Group. Last but not least, as at end-2016, Byblos Bank was fully compliant with the provisioning requirements of IFRS 9, well ahead of the 2018 regulatory deadline. In the context of these and other conservative steps, net customers’ loans grew by 5% to USD 5.2 billion, and customers’ deposits added 2.8% to reach USD 17.1 billion, while the Bank maintained a low loans-to-assets ratio of 24.9%, and slightly improved its net interest margin from 1.40% to 1.42%, largely due to better interest rate management. At the same time, the Bank faced difficult choices with regard to its subsidiaries in Syria and Sudan. Informed by our strong focus on long-term financial strength, and in the face of continuing instability in some of the emerging markets where we operate, as well as mounting international sanctions in some areas, the Bank has decided to deconsolidate their results and fully impair its investments in them, effective 31 December 2016. In the coming year, we expect to see improving economic and political conditions in our home market of Lebanon. And we will be ready to capitalize on them: the Bank has spent the past few years carrying out a variety of internal projects aimed at sharpening our business-development activities and increasing staff productivity, measures that leave us well-positioned to profit from expanding economic activity. 6 Byblos Bank S.A.L. The Year in Broad Strokes A MESSAGE FROM THE CHAIRMAN As ever, I feel compelled to point out that the satisfactory results achieved in 2016 – amid challenging conditions and a risk-averse approach – were the result of a team effort by an active and attentive Board, able and exacting management, and faithful and committed employees across the Byblos Bank Group. Their combined dedication and proficiency ensured that the Bank could keep advancing the interests of its shareholders by bolstering both its assets and its capital base despite numerous external obstacles. In addition, the same professionalism allowed us to maintain and fairly compensate an appropriately sized workforce, and to extend our long record of being a good neighbor in the communities where we operate. These and other achievements honor a proud tradition of establishing sensible priorities, crafting the right strategies to address them, and empowering our management and staff to implement these strategies with maximum efficiency. In this, all of us are guided
Load more

Recommended publications
  • Profile of the Group
    PROFILE OF THE GROUP 15 Profile of the Group | 12 Byblos Bank S.A.L. PROFILE OF THE GROUP Established in Jbeil (Byblos), Lebanon, in 1950, the Byblos Bank Group is a leading financial institution Our History focused on the domestic and selected overseas markets. After nearly six decades of consistent growth, Byblos Bank now has an extensive network of 77 branches spread evenly across Lebanon. The Group also has expanded to several other countries, including Armenia, Belgium, Cyprus, the Democratic Republic of the Congo, France, Iraq, Nigeria, Sudan, Syria, the United Arab Emirates, and the United Kingdom. Our Strategic Goals The focus of Byblos Bank’s strategy is to build on our leading position in the Lebanese market while diversifying into foreign ones. To do this, we strive to be a full-service bank providing comprehensive solutions for our customers in consumer banking, commercial banking, capital markets, correspondent banking, and assorted advisory services. Our Major Lines Consumer Banking Commercial Banking of Business Correspondent Banking Financial Markets Our Values Integrity Customer Focus Teamwork Performance Our Mission “Byblos Bank Group is a universal institution that is focused on the domestic and regional markets while striving to offer world-class services to its customers, fulfillment to its employees, and economic benefit to the communities it serves.” KEY DATES Our past gives us vision and strength and shows us the way to better seize all available future opportunities. Establishment of Establishment of Opening of Byblos Société Commerciale Adonis Insurance Bank Africa in et Agricole Byblos and Reinsurance Khartoum, Sudan. Bassil Frères & Co., Company’s name Co.
    [Show full text]
  • Lebanon This Week
    Issue 158 March 15-19, 2010 Economic Research & Analysis Department LEBANON THIS WEEK In This Issue Charts of the Week Economic Indicators....................1 Investment Freedom Index in Arab Countries for 2010 70 65 65 60 Capital Markets...........................1 60 55 55 55 50 50 45 45 45 45 Lebanon in the News...................2 Lebanon ranks 45th globally, 6th in 40 35 35 MENA region in electronic participation 30 Payments to the Kuwait Petroleum 20 Corporation and Sonatrach account for 20 95% of Treasury transfers to Electricité 10 du Liban 10 Growth and credit outlooks depend on 0 budget outcome, reform implementa- tion UAE Oman Egypt Qatar Syria Libya Jordan Kuwait Yemen Algeria Tunisia Industrial exports up 17% to $242m in Bahrain Morocco Lebanon January 2010 Saudi Arabia Investment Freedom Index for Lebanon Lebanon's travel and tourism economy to generate $12.4bn this year 60 Most tourists spending in Lebanon orig- inated from Saudi Arabia and UAE in 55 first two months of 2010 50 50 Cash transfers up 9% to $721m in first half of 2009, UAE is largest source and Philippines is main destination 40 Central Bank business survey: industrial activity down in third quarter of 2009 30 30 30 30 30 30 Central Bank lifts secrecy of 14 cases suspected of money laundering 20 Corporate Highlights ..................7 2004 2005 2006 2007 2008 2009 2010 Stable outlook for Lebanese banking system Source: Heritage Foundation/Wall Street Journal, 2010 Car sales down 12.1% year-on-year in first two months of 2010 Quote to Note BLC Bank's profits
    [Show full text]
  • Byblos Bank S.A.L. Corporate Profile | 09 Corporate Profile Corporate Profile | 09 Byblos Bank S.A.L
    19 Corporate Profile Byblos Bank S.A.L. Corporate Profile | 09 Corporate Profile Corporate Profile | 09 Byblos Bank S.A.L. Profile of 20 the Group OUR MAJOR LINES OF BUSINESS OUR Established in Jbeil (Byblos), --- Consumer Banking Lebanon, in 1950, the Byblos --- Commercial Banking HISTORY Bank Group is a leading financial --- International Banking institution focused on domestic --- Financial Markets and selected overseas markets. After nearly six decades of consistent growth, Byblos Bank OUR now has an extensive branch network of 77 branches spread VALUES evenly across Lebanon. The Group also has expanded to --- Integrity several other countries, including --- Mutual Respect Armenia, Belgium, Cyprus, --- Professionalism the Democratic Republic of --- Accountability the Congo, France, Iraq, Nigeria, --- Customer Focus Sudan, Syria, the United Arab --- Teamwork Emirates, and the United Kingdom. OUR MISSION OUR The focus of Byblos Bank’s “Byblos Bank Group is a universal strategy is to build on our institution that is focused on the STRATEGIC leading position in the Lebanese domestic and regional markets market while diversifying into while striving to offer world- GOALS foreign ones. To do this, we class services to its customers, strive to be a full-service bank fulfillment to its employees, providing comprehensive and economic benefit to the solutions for our customers in communities it serves.” commercial, trade and project financing, retail banking, private banking, asset management, and assorted advisory services. Our past gives us vision and strength KEY DATES and shows us the way to better seize all available future opportunities. Establishment of Société Company’s name Acquisition of Acquisition of Wedge Commerciale et Agricole Byblos changed to Byblos Banque Beyrouth Bank Middle East’s Bassil Frères & Co., engaged in Bank S.A.L.
    [Show full text]
  • Byblos Bank S.A.L. Structure and Strategy | 08 Structure Structure and Strategy | 08 Byblos Bank S.A.L
    7 Structure and Strategy Byblos Bank S.A.L. Structure and Strategy | 08 Structure Structure and Strategy | 08 Byblos Bank S.A.L. Governance: Traditional Values at Work 8 in a Changing World As a strong proponent and avid practitioner of transparent business practices, responsible lending policies and careful investment strategies, the Byblos Bank Group conducts Founded in 2004, our Group regular reviews to ensure Risk Management (GRM) that its governance model division uses the guidelines set remains appropriate to both down by Basel II as a starting regulatory requirements and point. GRM appraises the market developments and is Group’s position according to being adhered to. Our systems, several factors, including credit, codes of conduct and internal operational, and market risks, controls are designed with as well as those associated with an eye toward meeting the interest rates, liquidity, and credit requirements of Basel II and concentration risks (measured other international standards. by country, industry, borrowers Since many of these follow and connected groups thereof). definitions of “best practice” as GRM has also authored a Risk determined by thoroughgoing Management Charter aimed and carefully studied research, at obtaining organizational they are also consistent with structures suitable for the a determination to develop a management of the Group’s Group-wide approach to risk that strategic, operational and facilitates accurate assessment financial risk, as well as its and successful management by compliance goals. individual departments. In keeping with Basel II’s emphasis on accurately managing and quantifying credit, market and operational risks, Byblos Bank relies on departments established within the GRM Division.
    [Show full text]
  • Download the General Business Conditions of Byblos Bank Europe
    GENERAL BUSINESS CONDITIONS OF BYBLOS BANK EUROPE S.A. GENERAL BUSINESS CONDITIONS OF BYBLOS BANK EUROPE S.A. .................... 1 I. GENERAL CONDITIONS ........................................................................................... 3 Article 1: Field of application ...................................................................................................................................... 3 Article 2: Identity, legal capacity and powers .................................................................................................... 3 Article 3: Powers of attorney ....................................................................................................................................... 4 Article 4: Specimen signatures ................................................................................................................................... 5 Article 5: Correspondence ............................................................................................................................................. 5 Article 6: Dispatch and transport of documents and assets/securities ............................................. 6 Article 7: Professional discretion .............................................................................................................................. 6 Article 8: Data protection............................................................................................................................................. 10 Article 9: Deposit protection .....................................................................................................................................
    [Show full text]
  • Byblos Bank Directory | 10 Directory | 10 Byblos Bank S.A.L
    209 Directory Byblos Bank Directory | 10 Directory Directory | 10 Byblos Bank S.A.L. 210 Correspondent Banks CountRY CItY BAnK nAME Algeria Algiers Banque de l’Agriculture et du Développement Rural (BADR) Arab Banking Corporation Algeria, Banque Nationale d’Algérie (BNA), Banque de Développement Local SPA (BDL), Crédit Populaire D’Algérie Australia Sydney Westpac Banking Corporation* Austria Vienna UniCredit Bank Austria AG* Armenia Yerevan Byblos Bank Armenia C.J.S.C. Bahrain Manama Gulf International Bank BSC Belgium Brussels Byblos Bank Europe S.A.*, KBC Bank NV* Brazil Sao Paolo Banco ABC Brasil SA, Deutsche Bank AG Canada Montréal Royal Bank of Canada* Toronto Scotiabank* China Shanghai Bank of China, Agricultural Bank of China Cyprus Limassol Byblos Bank S.A.L. – Limassol Branch Czech Republic Prague Commerzbank AG Denmark Copenhagen Danske Bank A/S* DR Congo Kinshasa Byblos Bank RDC S.A.R.L. Egypt Cairo National Bank of Egypt*, Export Development Bank of Egypt (EDBE), Al Watany Bank of Egypt Ethiopia Addis Ababa Commercial Bank of Ethiopia* Finland Helsinki Danske Bank A/S, Pohjola Bank plc France Paris Byblos Bank Europe S.A. – Paris Branch*, Natixis* Germany Frankfurt Commerzbank AG*, Deutsche Bank AG*, The Bank of New York Mellon* Ghana Accra Ghana Commercial Bank Greece Athens National Bank of Greece SA Hong Kong Hong Kong Sumitomo Mitsui Banking Corporation, Standard Chartered Bank Hungary Budapest Commerzbank Zrt India New Delhi State Bank of India, MashreqBank, Standard Chartered Bank Iraq Baghdad Byblos Bank S.A.L. – Baghdad
    [Show full text]
  • Lebanon This Week
    Issue 143 November 16-20, 2009 Economic Research & Analysis Department LEBANON THIS WEEK In This Issue Charts of the Week Economic Indicators....................1 Investment* in Similarly-Rated Countries for 2009 (% of GDP) 48.8 Capital Markets...........................1 50 37.7 Lebanon in the News...................2 40 35.2 31 Lebanon ranks second in Arab world in 28.7 27.9 economic freedom 30 23 22.1 21.9 20.6 19.6 19 18 18 17.7 17.4 Fiscal deficit revised downward on 20 16.5 strong revenues 10 Lebanon ranks 130th globally, 14th among Arab countries on corruption 0 index Fiji Launch of code of ethics for SMEs in Benin Belize Bolivia Kenya Georgia Lebanon Grenada Median B Paraguay Lebanon SurinameSri Lanka Argentina Cameroon Cape Verde Burkina Faso Cleared checks up 4% to $46bn in first 10 months of 2009 Dominican Republic Lebanon's WTO accession to have min- imal impact on agriculture Investment in Lebanon (% of GDP) Lebanon ranks 59th globally, 6th in 20 MENA region in medium & high tech- nology exports relative to manufactured exports 18.5 18.2 Number of tourists up 43% in first 10 17.8 months of 2009 18.0 18 17.6 Most tourism spending year-to-October originates from Saudi Arabia Beirut port revenues up 26% to $135m in first 10 months of 2009 Construction permits up 9.5% in first 9 15 months of 2009 2007 2008 2009E 2010F 2011F Corporate Highlights .................6 *Expenditures on capital goods including plant, equipment and housing, plus the change in inventories- Byblos Bank 2009 Preferred Shares list- nvestment plus the current
    [Show full text]
  • Lebanon This Week
    Issue 182 September 6-18, 2010 Economic Research & Analysis Department LEBANON THIS WEEK In This Issue Charts of the Week Economic Indicators.....................1 Total Insurance Penetration in Arab Countries at end-2009 (% of GDP) Capital Markets............................1 3.5 3.1 3.0 2.8 Lebanon in the News....................2 2.5 Lebanon ranks 112th globally, 13th in 2.5 2.3 2.2 Arab region in credit ratings 2.0 2.0 Political tensions to affect growth, short- term challenge is to rollover maturing 1.5 1.2 Eurobonds 1.0 0.9 1.0 0.8 Draft budget for 2011 projects fiscal 0.6 0.5 deficit at 27% of expenditures and 8.6% 0.5 of GDP 0.0 Balance of payments posts surplus of $2.3bn in first 7 months of 2010 UAE Egypt Qatar Jordan Oman Kuwait Coincident Indicator up 13.4% year-on- Lebanon Morocco Bahrain Tunisia Algeria year in July 2010 Saudi Arabia Lebanon ranks 92nd globally, 12th Total Insurance Penetration in Lebanon (% of GDP) among Arab countries in global competi- 3.5 tiveness Lebanese banks to comply with new sanctions on Iran 3.04 3.11 3.0 Lebanon ranks 9th in Arab world in con- 2.86 nectivity 2.92 2.94 Construction permits up 48% in first 7 months of 2010 2.63 2.5 2.56 Launch of Lebanese-Mexican Business Council Net public debt at $44.3bn at end-July 2010 2.0 Airport passengers up 11% in first 8 2003 2004 2005 2006 2007 2008 2009 months of 2010 Source: Swiss Re, Byblos Reserach Corporate Highlights ...................6 MEA's IPO indefinitely postponed Quote to Note BLC Bank acquires 10% stake in USB Bank "The current rapid growth,
    [Show full text]
  • Lebanon This Week
    Issue 77 August 4-8, 2008 Economic Research & Analysis Department LEBANON THIS WEEK In This Issue Charts of the Week Voice and Accountability of Upper Middle-Income Countries in 2007 Economic Indicators....................1 1.5 1.10 1.05 0.98 0.98 0.95 0.88 0.86 1.0 0.74 0.47 0.47 0.33 Capital Markets...........................1 0.5 0.12 -0.02 0.0 -0.5 -0.19 -0.55 Lebanon in the News...................2 -1.0 Standard & Poor's upgrades sovereign -1.01-1.03 rating, cites decline in political tension -1.5 Capital Intelligence changes credit out- -2.0 -1.94 look to 'stable', cites improvement in -2.5 political climate Total Paris III commitments reach Chile Latvia Oman Libya Estonia Croatia Mexico Turkey Russia $4.7bn at end-June 2008 Hungary Uruguay Romania Lebanon Malaysia Costa Rica Argentina South Africa Ministry of Finance closes issuance of Czech Republic $500m Eurobond European Investment Bank disburses Voice and Accountability Indicator for Lebanon €12m to support private sector 0.25 0.23 Size of microfinance market in Lebanon 0.2 at $286m, 88.5% of demand still not met 0.15 0.14 Egypt to supply 200 megawatts of elec- 0.12 tricity to Lebanon 0.1 0.04 Iranian grant to build 80km road in 0.05 South of Lebanon 0 2002 2003 2004 2005 2006 2007 -0.05 -0.07 Corporate Highlights..................4 -0.1 Standard & Poor's upgrades ratings of three Lebanese banks -0.15 -0.15 Launch of 'angel' investor network -0.2 Beirut flight-training center under dis- Source: World Bank Governance Indicators, 2008 cussion Quote to Note Ratio Highlights...........................5
    [Show full text]
  • Lebanon This Week
    Issue 124 July 6-10, 2009 Economic Research & Analysis Department LEBANON THIS WEEK MinisterIn of This Economy Issue reinstate Charts of the Week Economic Indicators....................1 Government Effectivness for Upper Middle-Income Countries in 2008 1.5 1.24 1.15 1.13 Capital Markets...........................1 1.07 1.0 0.75 0.66 0.56 0.52 0.48 0.42 0.39 0.5 Lebanon in the News...................2 0.20 0.18 Beirut is 41st most expensive city in the world, 6th most expensive in MENA 0.0 region -0.14-0.18 -0.5 -0.32 Positive momentum for capital markets, deadlock in Cabinet formation is key -0.64 risk -1.0 -0.84 Association of Banks amends reference Chile Latvia Oman Libya rate on US dollar and Lebanese pound Estonia Croatia Turkey Mexico Russia Malaysia Hungary Uruguay Romania Lebanon lending Costa Rica Argentina South Africa Coincident Indicator drops by 4% Czech Republic month-on-month in May Government Effectivness Indicator for Lebanon Balance of payments posts surplus of 0.0 $1.7bn in first 5 months of 2009 2003 2004 2005 2006 2007 2008 Cleared checks up 5.1% to $20.6bn in -0.1 first 5 months of 2009 -0.2 -0.28 -0.31 -0.3 -0.34 Corporate Highlights .................5 Byblos Bank posts biggest rise in Tier -0.4 One capital and highest jump in rank- -0.46 ings among Lebanese banks included in top 1000 banks in the world -0.5 Byblos Bank invites shareholders to an -0.6 -0.61 -0.64 Extraordinary General Assembly -0.7 Commercial banks' assets reach $101.7bn at end-May 2009 Source: World Bank Governance Indicators, 2009 Holcim's net profits up 26% to $20m in 2008 Quote to Note Ciments Blancs posts 21% rise in net profits to $3.2m in 2008 “This national unity structure will delay difficult reforms” Regional investment bank EFG Hermes, on the likely impact of a coalition Cabinet grouping all major political factions in Lebanon Ratio Highlights.........................
    [Show full text]
  • IFC Mobile Money Scoping Country Report: Lebanon Alaa Abbassi, Andrew Lake, Cherine El Sayed
    IFC Mobile Money Scoping Country Report: Lebanon Alaa Abbassi, Andrew Lake, Cherine El Sayed May, 2012 Lebanon Summary Overall readiness rating 4 (Moderately high readiness for Bank Centric Mobile Money deployment in high income segments) 3 (Medium readiness for the mid market, those unable to afford smart phones) Current mobile money solution The banks have begun implementing mobile money – both mobile payments and mobile banking. This is being done by the banks on their own and in conjunction with Mobile payments suppliers within Lebanon. Population 4.14 mil * Mobile Penetration 68% 2010 (High) ** Banked Population 2.5 mil (60%) (Moderately high) *** Remittance % of GDP Outbound $3,737 mil (9.7%) *** Inbound $7,558 mil (19.6%) *** Percent under poverty line 28% * Economically Active population 1,48 mil (36%) * Adult Literacy 87.4% * Main banks Bank Audi, Blom Bank, Byblos Bank, Fransabank, Bankmed, BLF MobileIFC Opportunities Network Operators MTC Touch 1,724,854 (54%) Alfa 1,482,819 (46%) Ease of doing business Ranked 104 in the world, better than Pakistan, worse than Seychelles **** Sources: * https://www.cia.gov/library/publications/the-world-factbook/geos/le.html ** TRA annual report 2010 *** http://elibrary-data.imf.org/DataReport.aspx?c=2529608&d=33060&e=161939 **** http://doingbusiness.org/rankings • Macro-economic Overview • Regulations • Financial Sector • Telecom Sector • Distribution Channel • Mobile Financial Services Landscape Macro-Economic Overview Key Country Statistics Insights • Population: 4.14 mil • Lebanon is a small country, both in terms of population size and geography. • Age distribution: 23% (0 – 14 years) 68% (15 - 64 years) 9% (>65 years) • It has a sophisticated banking industry which serves 60% of the population (2.48 mil • Urban/rural split: 87% urban people, through 900 branches).
    [Show full text]
  • Lebanon This Week
    Issue 203 February 14-19, 2011 Economic Research & Analysis Department LEBANON THIS WEEK In This Issue Charts of the Week Economic Indicators.................1 Control of Corruption Indicator of Arab Countries in Percentile Rank Capital Markets.........................1 100 92 81 Lebanon in the News.................2 80 70.5 69 65.2 64.3 63 57.6 Lebanon ranks 140th globally, 102nd 60 51.4 50 among developing economies for its 41 39 37.6 economic growth environment 40 23 Labor Ministry introduces amend- 17.1 15.2 13.8 ments to labor law 20 6.2 4.8 TRA approved rights of way draft 0 decree UAE Iraq Egypt Syria Libya Qatar Oman Sudan Lebanon posts 22nd highest growth Kuwait Jordan Algeria Yemen Bahrain TunisiaMoroccoDjibouti Lebanon rate in tourist arrivals in the world in 2010 Saudi Arabia West Bank & Gaza Carlos Slim Helu to establish $50m foundation in Lebanon Control of Corruption Indicator for Lebanon in Percentile Rank 45 42.7 Use of hotels and furnished apartments 40 42.2 in Lebanon exceed two million nights, 38 spending down 38% to $126m in 2010 35 Beirut Port revenues up 6% in 2010 33 despite drop in activity 30 Lebanon ranks 149th globally, third 25 regionally in per capita alcohol con- 23 sumption 20 19.3 19.3 Corporate Highlights ................6 15 17.5 Stress tests confirm banking sector's 10 resiliency, Central Bank urges more 2002 2003 2004 2005 2006 2007 2008 2009 scrutiny of transactions Source:World Bank Governance Indicators Lintel Holding divests telecom con- tracting subsidiary, will focus on DRC operations Quote to Note Internet Service Providers sue Telecom Ministry "We are ready to put at Lebanon's disposal our financial and technical resources to help the country face the current economic challenges." ABL signs a cooperation agreement with Jordanian counterpart Dr.
    [Show full text]