Lebanon banking sector rated low strength

24 August 2011

Egypt and Morocco also classified low strength by Fitch Ratings

Ratings agency Fitch Ratings has classified Lebanon’s banking sector as ‘low strength’ in its annual review of banking systems in 86 countries. Egypt and Morocco were also in the same category.

The rating excludes potential support from shareholders or governments in order to highlight systemic weaknesses. Fitch also described Lebanon’s banking sector as facing a ‘high level of potential vulnerability’.

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