Association of Banks in Lebanon

Lebanon's Banks Stuck in Reverse: Jobs Go, Lending Dives

Lebanon's banks, which once powered the economy by sucking in billions of dollars of deposits from abroad, are shedding staff, watching loan books shrink and chasing liquidity to stay afloat. About 3,000 bankers, or more than 10% of the banking industry workforce, have resigned or lost their jobs so far since a financial crisis flared up in late 2019 - and the numbers keep rising, four senior bankers told Reuters.

Machrou3 Al Hezeb
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