10 September 2015 (01:44 UTC-07 Tango 01)/19 Shahrivar 1394/26 Dhu al-Qa’dah 1436/28 Yi-You 4713
The Central Bank of Syria reports that 20 private, public and ‘Islamic’ banks are reporting increased profits despite the U.S.-EU-Saudi-Israeli instigated civil war.
Combined six privately held banks reported a 80.3% increase in profits compared to the same time last year, a 15% increase in asset holdings and a 22.5% increase in deposits! The number of shareholders of privately held banks has increased to 34,621, more than half being Syrian companies.
The Commercial Bank of Syria reports they’ve been able to update to the latest technologies, but did admit to a slight drop in profits.
Syria International Islamic Bank reports liquidity is outpacing government goals: “The banks still have a suitable liquidity that is bigger than the minimum requirements set by Basel Committee and the Central Bank of Syria.”-Abdel Qader Dweik, executive director
The public Savings Bank reports 22,713 accounts with 651 deposits.
The People’s Credit Bank reports a liquidity increase of 33%! Bank administrators say they will use that liquidity to provide loans to low income customers.