Societe Generale de Banque au Liban – Georges Saghbini

E Marwan Iskandar recently said that it is not realistic to think that Lebanon has not been affected by the global financial crisis, especially considering the public debt; what’s your take on this? I don’t really think that the banking sector in Lebanon was affected by the crisis. There is only one way that the banking sector can be affected by the crisis, which is remittances. For the time being, this indicator is doing well. E How will the parliamentary elections in June affect the banking sector? Let’s be optimistic! What can go wrong with the elections? The system has shown its resiliency to all kind of crises. The key parameter of this macroeconomic setting is the stability of deposits and deposits in Lebanon represent more than 300 percent of GDP. E Some believe that by lending the government money, Lebanese banks are actually helping to perpetuate the country’s debt