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Lebanon This Week 527

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February 24, 2018
Lebanon This Week 527

Corruption Perceptions Index 2017

Scores & Rankings for Arab Countries

 

Source: Transparency International, Byblos Research


  • Lebanon ranks 143rd globally, 13th among Arab countries on corruption index
    Transparency International's 2017 Corruption Perceptions Index ranked Lebanon in 143rd place among 180 countries around the world and in 13th place among 21 countries in the Arab region. Also, Lebanon came in 43rd place among 48 upper middle-income countries (UMICs) included in the 2017 survey. In comparison, Lebanon ranked in 136th place among 176 countries around the world and in 13th place among 21 countries in the Arab region. Lebanon's global rank deteriorated by four spots from the 2016 survey based on the same set of countries in both surveys, while it regressed by nine spots from the 2015 survey based on the same criteria.

    Globally, Lebanon is perceived as having the same level of corruption as Bangladesh, Guatemala, Kenya and Mauritania. It is also considered to be less corrupt than the Comoros, Guinea and Nigeria and more corrupt than Mexico, Papua New Guinea, Paraguay and Russia.

    Lebanon was among 32 countries globally that received a score between 20 and 29 points, a category that Transparency International classified as the third worst globally in terms of corruption perception. New Zealand was perceived as the least corrupt country worldwide, while the survey found Somalia to be the most corrupt country in the world.

  • Non-life premiums up 2% to $1.1bn in 2017
    The annual survey by Al-Bayan magazine of the insurance sector in Lebanon shows that total non-life premiums generated by 44 insurance companies reached $1.12bn in 2017, constituting an increase of 2.3% from $1.09bn in 2016, and compared to growth rates of 3% in 2016 and 2.4% in 2015. Non-life premiums totaled $983m in 2013, $1.03bn in 2014 and $1.06bn in 2015. Bankers Assurance ranked in first place with $106.2m in non-life premiums in 2017, followed by MedGulf with $92.7m, AXA Middle East with $83.4m, Allianz SNA with $71.3m and Fidelity with $70.8m. Byblos Bank's insurance affiliate ADIR ranked in 17th place with $23.4m in non-life premiums in 2017, unchanged from 2016. The rank of Securité Assurance improved by six spots to 19th place and registered the highest jump in rank among the 44 providers of non-life insurance operating in Lebanon. Its non-life premiums grew from $9.8m in 2016 to $17.4m last year. The top 10 insurers accounted for 64% of the non-life insurance market in 2017 relative to 64.5% in 2016 and 64.8 % in 2015; while the top 20 insurers represented 86.4% of premiums in 2017 compared to 86.9% in 2016 and 85.9% in 2015. The aggregate non-life premiums of the top 10 insurers reached $715.1m in 2017 compared to $704.2m in 2016 and $686.7m in 2015.

  • Net losses of Syrian affiliates of Lebanese banks at $28m in 2017 due to unrealized foreign exchange losses on structural positions
    Preliminary financial results issued by the affiliates of seven Lebanese banks operating in Syria show that their aggregate net losses reached SYP14.1bn in 2017 relative to net profits of SYP54.4bn in 2016. The deterioration in the banks' net earnings is due to the appreciation of the Syrian pound from SYP517.4 against the US dollar at end-2016 to SYP436 per US dollar at the end of 2017, which resulted in unrealized net foreign exchange losses on the banks’ structural positions. Further, the exchange rate averaged SYP507.9 per dollar in 2017 relative to an average of SYP467.3 per dollar in 2016, which means that, in US dollar terms, the seven banks generated net losses of $27.7m in 2017 relative to net earnings of $116.5m in 2016. All banks posted net losses in 2017 except for Byblos Bank that registered profits of SYP965m, or $1.9m.

    In parallel, the banks' aggregate assets reached SYP810.9bn at the end of 2017 and decreased by 1.3% from SYP821.2bn at end-2016. In US dollar terms, the assets of the seven banks increased by 17.2% from $1.6bn at the end of 2016 to $1.86bn at end-2017, mainly due to the appreciation of the Syrian pound against the US dollar by 15.7% in 2017.

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Byblos Bank S.A.L., Byblos Bank Headquarters, Elias Sarkis Ave., Ashrafieh, Beirut

List of Banks No.39, CRB:14150, BDL Authorization No. 11/231 Dated 14 May 2005

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