Economic Research | Lebanon This Week | Lebanon This Week 586 | Number of employees in financial sector up 40% in 10 years, reaches 27,267 at end-2018 | Lebanon | Byblos Bank
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Lebanon This Week 586
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Economic Research
Lebanon This Week 586
Number of employees in financial sector up 40% in ...
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Number of employees in financial sector up 40% in 10 years, reaches 27,267 at end-2018
Figures issued by Banque du Liban (BdL) show that there were 27,267 individuals employed in the Lebanese financial sector at the end of 2018, constituting a marginal increase of 0.2% from 27,202 persons at the end of 2017, while they grew by 12.9% from 24,155 at end-2013 and by 39.6% from 19,534 at the end of 2008. Commercial banks accounted for 91.9% of total employees in the financial sector, followed by financial institutions with 4.9% and medium- & long-term banks with 3.2%. There were 13,047 females employed in the Lebanese financial sector at the end of 2018, equivalent to 47.8% of the sector's workforce.
Commercial banks had 25,071 employees at the end of 2018, relative to 22,265 individuals at end-2013 and to 18,190 persons at the end of 2008. They consisted of 17,086 non-executive employees or 68.2% of the total, 7,749 executives (30.9%), and 236 individuals who were either general managers, deputy general managers or assistant general managers (0.9%). In addition, there were 12,150 females employed at banks at end-2018, accounting for 48.5% of the total number of employees at commercial banks. Further, 80% of executives and non-executives at commercial banks held a university degree, 12% had a baccalaureate and 8% held a degree below the baccalaureate level. There were 49 commercial banks operating in Lebanon at the end of 2018, unchanged from end-2017, with 1,080 branches across Lebanon relative to 1,065 at end-2017.
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