Lebanon Banking & Financial Services Q4 2020
Lebanon's banking and financial services sector is relatively well developed, and growth prospects in the market aregradually improving. The banking sector, however, is expected to suffer from liquidity problems, and profits are anticipateddecrease owing to the government's intention to restructure its debt. Loan growth is also recording large contractions, which isexpected to continue in 2020. The insurance market has attracted some major multinationals to compete alongside domesticproviders, and both the life and non-life sectors are growing at a healthy rate in the mid-single rates, with the non-life segmentoutperforming the smaller life market. Investors face a range of challenges, including a weak regulatory environment, and limitedpolitical and economic stability. The impact of the Covid-19 outbreak will impact all sectors, with real GDP growth expected tocontract massively. This was followed by the Beirut port explosion, which is expected to regress the country's development for years.
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