Lebanon’s bank deposits down by USD 11.1 billion

Total deposits in the Lebanese banking sector have declined by LBP 16,867 billion (USD 11.1 billion or 6.2%) during the first 11 months of 2019 compared to the end of 2018.

As shown in the following table, the largest decline was recorded during September- October- November 2019 (LBP 14,933 billion or USD 9.9 billion). By deposit currency:

-Deposits in LBP have fallen by 14,404 billion (USD 9.56 billion), or 85.4%.

-Deposits in foreign currencies have dropped by LBP 2,465 (USD 1.6 billion), or 14.6%.

Due to such decline, the deposit dollarization ratio has increased from 68.9% to 72.5%.

A table showing a decline in bank deposits during 2019 (until November).

Source: Banque du Liban.