Political events in Egypt and now Syria are causing Lebanese banks increasing anxiety. More provisions have already been set aside, according to 2010 and first-quarter 2011 results, with a fall-off in the near term unlikely.
A spiral of political violence has most recently begun in neighbouring Syria. Purges in Egypt after the fall of president Hosni Mubarak are also targeting corporations seen as close to the old regime – firms to which many Gulf and Lebanese banks often lend.
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