Economic Research | Lebanon This Week | Lebanon This Week 573 | Term deposits account for 89% of customer deposits at end-2018 | Lebanon | Byblos Bank

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Byblos Bank

Lebanon This Week 573

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Term deposits account for 89% of customer deposits at end-2018

Figures issued by Banque du Liban about the distribution of bank deposits at commercial banks in Lebanon show that term deposits were the preferred type of account for resident and non-resident depositors in Lebanese pounds and in foreign currency at the end of 2018. Term deposits in all currencies reached $167.3bn at the end of 2018, constituting an increase of 3% from $162.5bn at end-2017. They accounted for 89.1% of total deposits in Lebanese pounds and in foreign currency at end-2018 relative to a share of 90% at end-2017.

Resident private-sector term deposits in foreign currency totaled $79.5bn and accounted for 42.4% of total deposits at the end of 2018. Resident private-sector term deposits in Lebanese pounds followed with $42.3bn (22.5%), then non-resident term deposits with $34.4bn (18.3%), term deposits of the non-resident financial sector with $7.1bn (3.8%), public-sector term deposits in Lebanese pounds with $3.7bn (2%), and public-sector term deposits in foreign currency with $158.6m (0.1%).

In parallel, resident private-sector demand deposits in foreign currency amounted to $10.1bn and represented 5.4% of total deposits at the end of 2018. Resident private-sector demand deposits in Lebanese pounds followed with $4.6bn (2.4%), then non-resident demand deposits with $3.3bn (1.8%), demand deposits of the non-resident financial sector with $2.1bn (1.1%), public-sector demand deposits in Lebanese pounds with $301.4m (0.2%), and public-sector demand deposits in foreign currency with $126.1m (0.1%).
 
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