Retail and personal loans in Lebanon still going strong

05 February 2016

BEIRUT: Retail and personal loans in Lebanon valued over $17 billion at the end of 2015, up 3.25 percent from a year earlier, a leading banker said Thursday.

“Personal loans have grown by 3.25 percent since the beginning of 2015 and reached $17.11 billion. This was due to an increase in the value of housing loans by 5.29 percent that reached $10.4 billion and an increase in the value of consumer loans by 3.62 percent to reach $4.6 billion,” said Joseph Torbey, president of the Association of Banks in Lebanon and head of the World Union of Arab Bankers, in remarks at the Arab Retail Banking conference in Beirut.

Citing Central Bank statistics based on the consolidated balance sheets of Lebanese banks, Torbey said personal loans represented 30.7 percent of total loans granted by the Lebanese financial sector since the beginning of 2015.

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