DOCSLIB.ORG

The United States Hails Lebanon's Advanced Banking System

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The United States Hails Lebanon's Advanced Banking System ABL Quarterly Newsletter Issue n° 3–October 2014 ABL’s “Economic Letter” free registration is available here: www.abl.org.lb The United States hails Lebanon’s operating in Lebanon are expected to come advanced banking system under pressure in the face of unfolding developments both in the country and the Lebanon has many advanced features in its region. economy and one of these interesting landmarks is there well-developed baking But S&P stressed that the business system, according to the United States confidence and economic recovery were Department of Commerce's 2014 Country gravelly affected by the political and Commercial Guide for Lebanon (CCG). security events that has plagued the country in recent years. It added that Lebanon's key advantages include a free-market economy, the The agency believes that Lebanon cannot absence of controls on the movement of insulate itself from the rapid and dramatic capital and foreign exchange, a well- in neighboring Syria although the banking developed banking system, a highly- sector, the main pillar of the economy, educated labor force, good quality of life, managed to weather all the major storms and limited restrictions on investors. and even achieved relative growth. This is not the first time the United States It emphasized that if the banking sector and other prominent countries heaped can prosper and grow if the political and praise on the Lebanese banks and the geopolitical risks receded. financial institutions which are seen as the main pillar of the economy. The report S&P insists that Lebanon has all elements expected the business climate to remain of quick economic recovery thanks to the sensitive to domestic and regional political strong financial sector, educated and security developments. It anticipated workforce and well established businesses. that spillovers from the Syrian crisis would continue to negatively impact It noted that the domestic banking sector, domestic activity that is expected to unlike the country's political institutions, remain below potential in the near-term. has coped well with the prevailing challenging conditions. It added that the U.S. exported $1.5 billion worth of goods to Lebanon last year, The agency expressed confidence of the accounting for 7.1 percent of total ability of the banks to improve ratings of Lebanese imports, compared to U.S. the country’s sovereign rating, giving lot exports of $2.4 billion or 11.2 percent of of credit to the Lebanese banks which total imports in 2012. played a crucial role in meeting the government’s financing needs, and that their role has increased as sovereign Lebanese banks to weather creditworthiness has deteriorated and security-political challenges: S&P because foreign investors' appetite for International rating agency Standard & sovereign debt has regressed. Poor’s said Lebanese and foreign banks Association of Banks in Lebanon | Beirut, Saifi, Gouraud Str | ABL Bldg P a g e | 1/6 Postal code: Beirut 2028-1212 Lebanon | P.O.Box: 976 Beirut, Lebanon Tel & Fax: (+ 961) 1 970500/1 Website: http://www.abl.org.lb ABL Quarterly Newsletter Issue n° 3–October 2014 ABL’s “Economic Letter” free registration is available here: www.abl.org.lb S&P anticipated that commercial lending the government and to the Central Bank opportunities for banks operating in that is consistent with the Basel capital Lebanon would remain limited during the adequacy framework. 2014-15 period, given the prevailing domestic political and economic conditions. OUR MEMBER BANKS’ LATEST NEWS: www.abl.org.lb/NewsRoom.aspx?pageid IMF advises Lebanese banks to =29 maintain one digit deposit growth only The International Monetary Fund underlined the importance of maintaining Eight Lebanese banks ranked modest growth in customer deposits that among the top 1000 international should not exceed one digit growth in banks 2014 in a bid meet the urgent needs of the Eight leading Lebanese banks have been economy but did not favor a double digit named among the top commercial banks in growth since this step would generate the world, according to the Banker higher liquidity and ultimately this result Magazine which conducted the survey in in a higher cost for the Central Bank to 2014. The ranking of the Lebanese banks absorb this excess liquidity. remained unchanged compared to last year. It said that banks could reduce the spread between the local interest rates on dollar The rankings are based on Tier One capital deposits and on global dollar rates in order at year-end 2013 as defined by the Basel to slow down the growth in the deposit Bank for International Settlements. The stock when needed. Banker said the definition is stricter than total shareholders' equity and covers only The IMF did recommended the banks not the core of a bank's strength, namely the to digest more sovereign bonds and T-bills shareholders' equity available to cover that are issued by the government which actual or potential losses. taps the local and international markets to meet its financial needs. The eight Lebanese banks are Byblos Bank, Bank of Beirut, BLOM Bank, It even advised the banks to downsize their Crédit Libanais, BankMed, Fransabank, balance sheet if the government's Banque Libano-Française and Bank Audi. borrowing needs decline significantly and if regional opportunities remain limited. The IMF hailed the Central Bank’s stricter Lebanese banking sector has requirements than those implied under similar level of vulnerability as Basel III, but it urged the authorities to Saudi Arabia, Canada and Germany have an approach to banks’ exposure to Association of Banks in Lebanon | Beirut, Saifi, Gouraud Str | ABL Bldg P a g e | 2/6 Postal code: Beirut 2028-1212 Lebanon | P.O.Box: 976 Beirut, Lebanon Tel & Fax: (+ 961) 1 970500/1 Website: http://www.abl.org.lb ABL Quarterly Newsletter Issue n° 3–October 2014 ABL’s “Economic Letter” free registration is available here: www.abl.org.lb International rating agency Fitch said in a assessment. In October 2013, Fitch recent report that Lebanon’s banking upgraded Lebanon's score to '1' from a sector is ranked among the 73 countries in previous score of '2' due to a sharper-than- terms of low level of potential expected slowdown in credit growth in vulnerability and this vulnerability is 2012. similar to the vulnerability of rich and advanced countries such as Saudi Arabia, This constituted the second consecutive Canada and Germany. upgrade for Lebanon's MPI score, as the agency upgraded the country's MPI score This report came in its semiannual risk from '3' in August 2012 to '2' in January assessment of 110 banking systems in 2013. Lebanon, along with Bahrain, Cape advanced and emerging economies. Verde, Egypt, Israel, Kuwait, Morocco, Namibia, Nigeria, Oman, Saudi Arabia, Fitch added that Lebanon’s ranking among the Seychelles, South Africa, Tunisia and the 73 banking system in the world, is the UAE had an MPI score of '1' in the considered in the highest category on Middle East & Africa region. Other Fitch's Macro-prudential Indicator (MPI). countries in this category included Canada, Denmark, Germany, Japan and the United Lebanese banks are highly regulated and States. have consistently pursued ways to adopt safety measures to protect both the banks The agency said Lebanon's banking sector and their depositors. was among 18 banking systems that had a Banking System Indicator (BSI) of 'b'. The As such, the Lebanese banks has to some BSI is a measure of intrinsic banking extent passed the stress test which was system quality or strength, derived from designed to determine if banks around the Fitch's Viability Ratings for banks. world can survive financial and economic crisis similar to the ones that occurred in Lebanon has the highest loan 2008 and 2009. penetration among the Arab The MPI tries to identify the build-up of countries in 2013 potential stress in banking systems due to Lebanese banks remained one of the a specific set of circumstances. It aims to highest loan providers per 1,000 adults highlight potential systemic stress that although this rate slightly fell by 4.7 could materialize up to three years after an percent in 2013 compared to 2012, early warning is first indicated. according to the International Monetary Fund. It identifies instances of rapid real credit growth over successive two-year periods, The IMS said that there were 299 along with growth in real property prices, borrowers per 1,000 adults at commercial an appreciation in the real exchange rate or banks in Lebanon at the end of 2013, a rise in real equity prices. constituting a decrease of 4.7 percent from Fitch maintained Lebanon's MPI score 313.5 borrowers per 1,000 adults in 2012 unchanged from its October 2013 Association of Banks in Lebanon | Beirut, Saifi, Gouraud Str | ABL Bldg P a g e | 3/6 Postal code: Beirut 2028-1212 Lebanon | P.O.Box: 976 Beirut, Lebanon Tel & Fax: (+ 961) 1 970500/1 Website: http://www.abl.org.lb ABL Quarterly Newsletter Issue n° 3–October 2014 ABL’s “Economic Letter” free registration is available here: www.abl.org.lb and compared to 200 borrowers per 1,000 Lebanon had the 13th highest branch adults in 2006. penetration rate among 177 countries worldwide with available figures for 2013, In terms of penetration rate, the IMF said the third highest among 49 upper-middle that Lebanon ranked in the 24th place income countries (UMICs) and the highest among 93 countries with available figures among 16 Arab countries. Globally, for 2013 and the 10the place in the upper- Lebanon had a higher penetration rate than middle-income countries and first among Switzerland, Korea and the Netherlands, the Arab states.
Load more

Recommended publications
  • Corporate Social Responsibility Practices in The
    CORPORATE SOCIAL RESPONSIBILITY PRACTICES IN THE LEBANESE BANKING SECTOR: A REALITY OR A MYTH? _________________________________________________ A Thesis presented to the Faculty of Business Administration and Economics at Notre Dame University-Louaize _________________________________________________ In Partial Fulfillment of the Requirements for the Degree Master of Science In Business Strategy _______________________________________________________________ by MARIA CHLELA JULY2020 © COPYRIGHT By Maria Chlela 2020 All Rights Reserved Notre Dame University - Louarze Facultyof K*zz*ixx*ss1a^q2xxttyti*tyeti{tzz8*Wu"rrxtyxzz\*s Department of f&'anas*]wnt k T,La{keling We hereby approve the thesis of 7,",1,:,xt* t-.h\*l,t candidate for the degree of h4a*tsrs tsl's*,i*r:tt*, in T-lusiness strztl*gy Grade: B c 0Le Mr . {}hass an ni *\ z: t> ttthv Supe{vsttrr 6) & h,t*t'2li n" 13M,W tr7**n. t;13AI: ii TABLE OF CONTENTS LIST OF FIGURES ........................................................................................................... iv LIST OF TABLES ............................................................................................................. iv ACKNOWLEDGMENTS .................................................................................................. v ABSTRACT ....................................................................................................................... vi CHAPTER 1-INTRODUCTION ........................................................................................ 1 1.1- General Background
    [Show full text]
  • Credit Libanais S.A.L
    C REDIT LIBANAIS S.A.L. CAPITAL INVESTMENT PROGRAM: ECONOMIC RESEARCH UNIT CREDIT LIBANAIS HEADQUARTERS A FOCUS ON THE TRANSPORTATION ADLIEH ECTOR S BEIRUT, LEBANON TEL +961.1.608000 JULY 2018 FAX +961.1.608231 [email protected] CAPITAL INVESTMENT PROGRAM: A FOCUS ON THE TRANSPORT SECTOR TABLE OF CONTENTS I. EXECUTIVE SUMMARY ........................................................................................ 3 II. INTRODUCTION ................................................................................................ 5 III. OVERVIEW ...................................................................................................... 6 A. Existing Road Plans ........................................................................................... 6 i. Description & Conditions ........................................................................................ 6 B. Car Congestion ................................................................................................ 7 i. Evolution & Forecasts ............................................................................................. 7 ii. Impact of Syrian Crisis ........................................................................................... 8 IV. COSTS ............................................................................................................ 9 A. Economic Bill ................................................................................................... 9 B. Environmental Bill .........................................................................................
    [Show full text]
  • Credit Libanais Market Watch
    5 CREDIT LIBANAIS S.A.L. Weekly Market Watch Economic Research Unit Credit Libanais Headquarters Issue No. 448 Adlieh Beirut, Lebanon Tel +961.1.608000 th th February 9 ‐ February 13 2015 Fax +961.1.608000 Ext. 1285 [email protected] TABLE OF CONTENTS LEBANON NEWS TH ECONOMIC INSIGHTS LEBANON RANKS 10 IN THE MENA REGION IN THE NATIXIS’ 2015 GLOBAL > Lebanon Ranks 10th in the MENA Region in the Natixis’ 2015 RETIREMENT INDEX Global Retirement Index 1 > Industrial Exports Shed 14.61% Y-O-Y to $2,890 Million up to According to Natixis Asset Management’s November 2014 2 report, Lebanon came in 10th in the > Commercial Banks’ Assets up by 6.60% to $175.70 Billion as th at End of Year 2014 3 region and 94 worldwide in the year > Gross Public Debt at $66.56 Billion at End of Year 2014 4 2015, with a score of 50% in the > Lebanon’s Annual Inflation Rate Stood at -1.66% in December retirement index. 2014 5 > Lebanon’s Coincident Indicator Down by 3.62% Y-O-Y in INDUSTRIAL EXPORTS SHED 14.61% November 2014 5 TO ILLION UP TO > New Car Sales Notch 2.70% Higher Y-O-Y in January 2015 6 Y-O-Y $2,890 M NOVEMBER 2014 > ABL Amends the BRR on LBP and USD Lending 7 > Beirut Port Freight Activity Drops by 18.07% in January 2015 7 Industrial exports came in 14.61% lower > The Number of Beirut Airport Passengers Adds 11.45% Y-O-Y in January 2015 8 y-o-y at $2,890 million as at the end of the first eleven months of 2014, down from just over $3,384 million during that MONETARY PERFORMANCE same period in 2013.
    [Show full text]
  • You Must Read the Following Before Continuing. The
    IMPORTANT NOTICE IMPORTANT: You must read the following before continuing. The following applies to the Prospectus following this page, and you are therefore advised to read this carefully before reading, accessing or making any other use of the Prospectus. In accessing the Prospectus, you agree to be bound by the following terms and conditions, including any modifications to them any time you receive any information from us as a result of such access. NOTHING IN THIS ELECTRONIC TRANSMISSION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION. THE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE ‘‘SECURITIES ACT’’), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR OTHER JURISDICTION, AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT), EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE LAWS OF OTHER JURISDICTIONS. THIS PROSPECTUS MAY ONLY BE VIEWED BY (1) QUALIFIED INSTITUTIONAL BUYERS (“QIBS”) (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) OR (2) NON- U.S. PERSONS (WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT) OUTSIDE THE UNITED STATES. THE FOLLOWING PROSPECTUS MAY NOT BE FORWARDED OR DISTRIBUTED TO ANY OTHER PERSON AND MAY NOT BE REPRODUCED IN ANY MANNER WHATSOEVER AND ANY FORWARDING, DISTRIBUTION OR REPRODUCTION OF THIS DOCUMENT IN WHOLE OR IN PART IS UNAUTHORISED.
    [Show full text]
  • Lebanon This Week
    Issue 594 | July 29 - August 3, 2019 Economic Research & Analysis Department LEBANON THIS WEEK In This Issue Charts of the Week Economic Indicators...........................1 Capital Markets..................................1 Performance of Arab Stock Markets in First Seven Months of 2019 (% change)* Lebanon in the News..........................2 Budget law forecasts deficit of 7.6% of GDP in 2019 Lebanon's population to reach 6.4 million at the end of 2025 Ministry of Finance clarifies operations of offshore companies Fiscal deficit narrows by 18% to $2.4bn in first five months of 2019 Net foreign assets of financial sector down by $204m in June 2019 Payment cards reach 2.81 million at end- March 2019, ATMs total 2,014 Lebanon ranks 77th globally, seventh among Arab countries in terms of readiness for change Lebanon launches campaign to support in- dustrial sector Performance of the Beirut Stock Exchange* Lebanon and Iraq sign healthcare coopera- tion agreement Construction activity remains subdued in first quarter of 2019 Corporate Highlights .........................8 Byblos Bank's net profits at $60m in first half of 2019, foreign currency liquidity at 15.6% of deposits Stock market index down 14% in first seven months of 2019 Kafalat loan guarantees down 85% to $4.3m in first half of 2019 -XO $XJ 6HS 2FW 1RY 'HF -DQ )HE 0D U $SU 0D \ -XQ -XO Aggregate net profits of five listed banks *Capital Markets Authority Value Weighted Index down 5.5% to $570m in first half of 2019 Source: Local Stock Markets, Capital Markets Authority, S&P Dow Jones Indices, Byblos Bank Assurex's net earnings at $2.8m in 2018 Quote to Note Banking sector assets at $256bn at end-June 2019 ''We would like it to be an opportunity to go much farther in the implementation of re- forms.'' Ratio Highlights................................11 Risk Outlook ....................................11 H.E.
    [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]
  • Banking in Lebanon
    BANKING IN LEBANON A special report by Executive Magazine June 2014 The taxation issue and other concerns faced by the country’s primary financial players in 2014 Tax = Torture? The dominant issue in initiatives which the Lebanese government could add to its count of “accomplishments” in the first quarter of 2017 was not, as hoped at time of this cabinet’s appointment in December 2016, an equitable or at least workable electoral law. What turned out to be the biggest in the government’s doings instead was new taxation measures, in form of increases of existing consumption taxes and corporate income taxes and in form of new taxes, direct and indirect ones that are, however, have not been debated yet to completion in Parliament and ergo not been approved at time of producing this pdf document. What is evident at the end of March 2017, however, is that the tax measures have shocked many, Lebanese citizens and corporations alike. Citizens crowded public spaces in – at times hysteric and near-violent – protest demonstrations. Economic entities, including the banking sector, raised their objections in a more civil, but no less determined matter, arguing about detriments to GDP growth as well as loss of productivity and of already battered competitiveness in the Lebanese economy. Banks, which are set to bear an unenviable part of the new tax burden, have also spoken up in protest about the fairness of the measures and the problem that the measures in their view constitute double taxation, which is incompatible with any notion of fiscal justice. This position of the banks is contrary to the perception of banking sector standpoints which the Ministry of Finance communicated to this magazine earlier in 2017.
    [Show full text]
  • The Republic of Lebanon
    THE REPUBLIC OF LEBANON The World Bank Group THIRD QUARTER 2003 A Quarterly Publication of the Lebanon Country Office Public Disclosure Authorized Public Disclosure Authorized In this edition Page · Editorial: Moving Together on the Portfolio 3 Public Disclosure Authorized · Privatization: From Panacea to Pr econditions 4 · Bank Group Operations 8 · Recent Economic Developments 10 · Fundamental Transitions for the Region’s Greatest Challenge 18 · News, Recent and Upcoming Activities 23 Public Disclosure Authorized · Recent World Bank Publications 25 Republic of Lebanon Update World Bank Contacts – Washington Joseph Saba, Country Director Shaha Riza, Acting Manager Tel. (202) 473-2992 - Fax (202) 477-1482 External Relations and Outreach E-mail: [email protected] Tel. (202) 458 1592 - Fax (202) 522 0006 Email: [email protected] Osman Ahmed, Lead Operations Officer Tel. (202) 473-7063 - Fax (202) 477-1482 Sabah Moussa, Executive Assistant E-mail: [email protected] Tel. (202) 473-9019 - Fax (202) 477-1482 E-mail: [email protected] Carlos Silva-Jauregui, Senior Economist Tel. (202) 473-1859 - Fax (202) 477-0432 Sereen Juma, Communications Associate E-mail: [email protected] Tel. (202) 473-7199 - Fax (202) 522-0003 E-mail: [email protected] Sophie Warlop, Operations Analyst Tel. (202) 473-7255 - Fax. (202) 477-1482 www.worldbank.org E-mail: [email protected] To Order World Bank Publications: World Bank Address: http://publications.worldbank.org/ecommerce 1818 H Street, NW Washington, DC 20433 For Information on World Bank Programs in Lebanon: www.worldbank.org/mna/lebanon World Bank Contacts – Beirut Omar Razzaz, Country Manager Hadia Samaha Karam, Operations Officer Tel. Ext.
    [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]
  • Bank Muscat Online Account Statement
    Bank Muscat Online Account Statement RuddydepartmentalisedNeo-Gothic claw Isadorehis topaz her allow, legatesfleshes his depolymerizesohandicappers forever that lanceolately. fatigueBenton scale claucht inorganically. very sprucely. Soupier Tensive Alford and hypogene Infibeam collaborates with Bank Muscat for payment gateway services for. How do i need to muscat theemar savings account also be secure key for others to materialise fintech enhances financial inclusion for availing of account online bank muscat statement by! Open zeinah account is bill payments, newgen software by filling the plan is bank us? Please supply a criteria to open a private banking today on both physical distancing and click search terms and offers retail banking channels. Registration to online statement. Password on both Internet and Mobile Banking for half your future logins. Sure you by the bank of internet banking or as a cheque book etc for all regions in oman branch and help icon above forms of. Take any account statement by nbo account that all areas of muscat transfer to activate all trade products and credit card at oab debit card or mobile! Credit line from TT3000 to TT999999 Free host to our Online Banking. The Online Banking Platform will i send email notifications to. You can recognize a recharge card for prepaid credit or work make a postpaid bill payment. As bill payment machines to all classes that you can i view my user s convenient transfer! Account means Bank Muscat. Call center on my bank muscat online account statement. EarningsTotal Cumulative translation account from other Balance at. Instruct the accounts from latin america and! Please visit my Bank Muscat branch to provide good for Online Banking.
    [Show full text]
  • Lebanon This Week
    Issue 162 April 19-23, 2010 Economic Research & Analysis Department LEBANON THIS WEEK In This Issue Charts of the Week Economic Indicators.....................1 Projected Real GDP Growth of Arab Countries in 2010 (%) 20 18.5 Capital Markets............................1 18 Lebanon in the News....................2 16 IMF projects real GDP at 6% in 2010, 14 economy posts fourth fastest growth globally in 2009 12 10 Structural imbalances and political 7.8 7.3 uncertainties to hinder reforms 8 6.0 5.5 6 5.2 5.0 5.0 4.7 Finance Ministry outlines tax reforms, 4.6 4.6 4.5 4.1 4.0 3.7 3.5 starts paying dues to contractors 4 3.2 3.1 1.3 Government releases national accounts 2 for 2008, official real GDP growth at 0 9.3% Iraq UAE Consumer Price Index up 4.5% annually Qatar Sudan Libya Egypt Syria Oman Yemen Algeria JordanTunisia Kuwait in March 2010 Lebanon Djibouti BahrainMorocco Mauritania Saudi Arabia Number of tourists up 32.1% in first quarter of 2010 Real GDP Growth in Lebanon (%) 10 9.0 Most tourists spending in Lebanon origi- 9.0 9 nated from Saudi Arabia and UAE in first quarter of 2010 8 7.5 7.5 7 Foreign investments of financial sector at 6.0 $4.8bn at end-June 2009 6 Corporate Highlights ...................5 5 4 Capital Intelligence affirms Byblos 3 2.5 Bank’s ratings, cites quality manage- ment, low NPLs and provision coverage 2 among strengths 1 0.6 Byblos Bank to distribute $85.4m in div- 0 idends for 2009, payout ratio at 69% 2004 2005 2006 2007 2008 2009 2010f PROPARCO buys 13.6 million Byblos shares Source: International Monetary
    [Show full text]
  • Bank M&A Activity 1999-2000
    SPOTLIGHT Bank Relationships Bank M&A activity 1999-2000 There has been a considerable amount of activity and consolidation in the international banking industry during the past 18 months. The Bankers’ Almanac compiles its extensive database of global banks through regular contact with the market and has provided the following tables, based on data supplied to it by the banks themselves. The tables show mergers and acquisitions completed during 1999 and some recent and expected mergers and acquisitions during 2000. Each table is listed alphabetically by bank name. These tables include information received by The Bankers’ Almanac up until May 2000. They do not include merg- ers where the share ownership has changed but the acquired business continues to operate as a separate business (such as the Royal Bank of Scotland takeover of National Westminster Bank earlier this year). Some recent and expected mergers reported during 2000 Country Bank name Action Bank name 2 Date merger completed or expected USA The Anchor Bank Merged into Carolina First Bank September Japan The Asahi Bank Ltd; The Sanwa Bank Ltd; and The Tokai Bank Ltd Merge to form Not yet advised April 2001 Italy Banca Popolare di Verona-Banco S Geminiano e S and Banca Popolare Merge to form Not yet advised Tbc di Bergamo-Credito varesino SCaRL Spain Banco de Alicante Merge into Banco Bilbao Vizcaya Argentaria April Costa Rica Banco del Istmo (Costa Rica) Merge into Banco Banex SA February Ecuador Banco del Pacifico SA Merge with Banco Continental SA June Uruguay Banco Frances
    [Show full text]