Syrian Radio & TV

20 banks still operating in Syria with a notable increase in liquidity, profits and deposits

The public and private banks in Syria have worked on developing their products despite of the current crisis as they have continued to fund the imports and the economic processes according to the needs of the national economy during the current stage. Some 20 banks are operating in Syria, six of which are private and 14 are public, while three of those banks are Islamic. Contrary to most of the economic sectors in Syria, the profits of the private banks have witnessed a significant development reaching SYP 45 billion by the end of the first half of the current year with an increase of 80.3 percent in comparison with 2014 while between the years 2013 and 2014 they were increased by 65.5 percent.

Al-Baraka Bank Syria opens branch in Tartous

A branch of al-Baraka Bank Syria had been opened on Thursday in the coastal Tartous city with the participation of official and economic figures. Governor of the Central Bank of Syria (CBS) Adib Mayaleh affirmed in a press statement that banks in Syria have had an effective contribution to national economy, considering it a sign of growth and recovery despite the critical stage that Syria is passing through. Several branches of a number of banks are under construction in different areas in Syria, Mayaleh added. For his part, Mohammed Halabi, Chief Executive Officer of Al Baraka Bank Syria highlighted the importance of opening the bank’s tenth branch in Syria.

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