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Reuters
Reuters
Business

Depositors, some armed, storm 3 Lebanese banks over withdrawal limits

Outraged depositors, at least two of them armed, stormed three commercial banks across Lebanon on Tuesday over withdrawal limits imposed on most clients throughout the country's financial meltdown.

Cases of bank hold-ups have been snowballing across Lebanon as the population grows exasperated over informal capital controls that banks have imposed since an economic downturn began in 2019.

On Tuesday morning, a Lebanese man armed with a pistol and a grenade entered the Chtaura branch of BLC Bank, demanding access to his $24,000 in savings, according to Depositors' Outcry, a group campaigning for angry depositors.

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