“Akhbar al-Yawm” agency

Bank Branches in Lebanon…Updated Figures as of March 2024

A decrease of 4.6%

According to figures released by the Banque du Liban, the number of bank branches in Lebanon stood at 726 at the end of March 2024, marking a decrease of 35 branches, or 4.6%, from 761 branches at the end of 2023. This also represents a decline of 113 branches, or 13.5%, from 839 branches at the end of March 2023, a reduction of 195 branches (-21.2%) from 921 branches at the end of March 2022, and a drop of 332 branches from March 2021, as well as a total decrease of 422 branches from March 2020.

The total number of branches of Lebanese commercial banks, both in Lebanon and abroad, reached 707 at the end of March 2024, compared to 741 at the end of 2023, 818 at the end of March 2023, 900 at the end of March 2022, 1,037 at the end of March 2021, and 1,127 at the end of March 2020. Furthermore, the number of branches of medium- and long-term banks operating in Lebanon stood at 19 at the end of March 2024, compared to 21 branches at the end of March 2023. Meanwhile, the number of Lebanese commercial bank branches abroad remained unchanged at 46 at the end of March 2024, compared to 49 branches at the end of March 2023 and 52 branches at the end of March 2022.

The distribution of commercial bank branches indicates that the number of these branches in Lebanon amounted to 661 at the end of March 2024, reflecting a decrease of 34 branches from 695 at the end of 2023, a reduction of 108 branches from 769 at the end of March 2023, a decline of 187 branches from 848 at the end of March 2022, a decrease of 304 branches from March 2021, and a drop of 393 branches from March 2020. These figures were reported in the weekly economic report Lebanon This Week, by Byblos Bank Group.

The number of commercial bank branches in Beirut and its suburbs reached 345, accounting for 52.5% of the total branches in Lebanon at the end of March 2024, followed by Mount Lebanon with 131 branches (19.8%), the South with 72 branches (10.9%), the North with 69 branches (10.4%), and the Bekaa region with 44 branches (6.7%). Additionally, the number of branches of the nine foreign commercial banks operating in Lebanon stood at 21, while the four Islamic banks had a total of 12 branches as of March 2024. Moreover, the number of electronic branches offering banking services through interactive and automated devices reached seven at the end of March 2024.

As of the end of March 2024, the number of commercial banks operating in Lebanon stood at 46, while the number of medium- and long-term banks was 13, compared to 15 at the end of March 2023. Meanwhile, 37 financial institutions had 66 branches in Lebanon at the end of March 2024, compared to 40 financial institutions with 69 branches in both March 2023 and March 2022.