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Salameh calls on Lebanon's banks to raise customer deposits

04 March 2012

Lebanon's central bank governor, Riad Salameh has said the country's banking sector should further boost customer deposits, even if it leads to slower profits, The Daily Star has reported. "We are maintaining a [financially conservative] policy and at the same time we call on banks to continue stimulating growth in their deposits, even at the expense of slowing growth in profits," Salameh said. Lebanese banks' deposits rose by 9% last year, equivalent to 25% of GDP after strong inflows of capital from overseas.

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