Most Banks to Raise Capital Before BDL Deadline

  • Economics
Most Banks to Raise Capital Before BDL Deadline

The majority of Lebanese banks are expected to raise their capitals by 20 percent before the Central Bank’s Feb. 28 deadline, but some of them may have difficulty in repatriating 3 percent of deposits in correspondent banks.

Most of the banks operating in the country seemed confident in boosting their private equities even before the deadline looms.

Even the medium and small banks have started raising their capital in December 2020 through the injection of fresh funds or finding new shareholders.

Tanal Sabbah, the chairman and general manager of the Lebanese Swiss Bank and board member of the Association of Banks in Lebanon, told The Daily Star that raising the capital by 20 percent was never a problem for most banks in the country.

Read the Full Story at the Daily Star: https://bit.ly/2Zm6DSx

Source: The Daily Star