Moody's: Lebanese banking outlook stable

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Moody's: Lebanese banking outlook stable

18 Mar 2010

A report by a Middle East finance group suggests the credit outlook for the banking sector in Lebanon is stable.

Moody's Investors Service has published its Banking System Outlook on Lebanon report and points to the country's constant stream of foreign investment as a key factor behind the analysis.

The ratings firm indicates the political system in the Gulf state is also stable, in relative terms, but warns that any wider issues could destabilise the investment sector in the country.

The report's author, Moody's assistant vice-president analyst Stathis Kyriakides, noted: "Bank deposits have displayed a notable resilience to political shock throughout the country's turbulent recent history."

Unless there is a significant deterioration in regional politics, Mr Kyriakides does not anticipate any drastic change in the foreign investment streams coming in to Lebanon or to the country's liquidity policies.

The world's richest man - Mexican tycoon Carlos Slim - has been in the Gulf state during the last week and had talks with president Michel Sulieman.
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