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ENACT HOLDINGS, INC.

(ACT)
  Report
Delayed Nasdaq  -  04:00 2022-12-09 pm EST
24.32 USD   -0.45%
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Lebanon's banks to reopen on Monday - statement

09/25/2022 | 06:31am EST
A man walks past a closed Blom Bank branch in Sidon

BEIRUT (Reuters) -Lebanon's banks will reopen on Monday, the banking association said, after five days of closure following a wave of holdups in the country by depositors seeking access to their frozen savings.

The association said in a statement on Sunday that the decision to reopen "was taken after consideration of the current difficult security conditions and the need to maintain the safety of customers and employees alike, in the absence of adequate protection by the state".

It added each bank would determine its own channels for banking operations with commercial and educational institutions, and the health care sector amongst others.

A top Lebanese banker on Friday criticised politicians for failing to enact a capital control law, saying this was the way to avoid bank raids by savers demanding funds from frozen accounts and to stop banks' "discretionary practices".

The holdups reflect savers' desperation three years after Lebanon's financial system collapsed due to decades of state corruption and waste, and unsustainable financial policies.

The government has agreed neither a financial recovery plan nor enacted reforms deemed vital to get Lebanon out of the crisis. While the government says it is committed to reforms, the International Monetary Fund says progress remains very slow.

(Reporting by Timour Azhari; Writing by Moataz Mohamed; Editing by David Clarke, Alexandra Hudson)


ę Reuters 2022
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Analyst Recommendations on ENACT HOLDINGS, INC.
More recommendations
Financials (USD)
Sales 2022 1 087 M - -
Net income 2022 702 M - -
Net Debt 2022 - - -
P/E ratio 2022 5,66x
Yield 2022 6,33%
Capitalization 3 960 M 3 960 M -
Capi. / Sales 2022 3,64x
Capi. / Sales 2023 3,54x
Nbr of Employees 503
Free-Float 18,3%
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Technical analysis trends ENACT HOLDINGS, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 24,32 $
Average target price 26,71 $
Spread / Average Target 9,84%
EPS Revisions
Managers and Directors
Rohit Gupta Chairman, President & Chief Executive Officer
Hardin Dean Mitchell Chief Financial Officer, Treasurer & Executive VP
Dominic James Addesso Chairman
Brian Gould Chief Operations Officer & Executive VP
John D. Fisk Independent Director
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