Abstract
The Lebanese Banking Sector performs a vital role in the economic development of the country. Currently, Lebanese banks are engaged in a wide range of activities, offering variety of financial products and services to resident and non-resident customers. In addition to the distinguished products offered to the business sector, Lebanese banks have also entered the retail market by offering a wide range of products to the household sector. Managing such a portfolio of products and services needs high efforts and comprehensive data analysis to get high customer satisfaction and loyalty. To face competition, especially from MENA banks, Lebanese banks are in a continual need to design new products, upgrade technology and infrastructure, improve employees’ skills and know-how, and improve relations with customers The more the sound the banking system, the more will be the healthy economy. Lebanese banks are still measuring and evaluating the performance of their business using only financial measures. Till our days, the idea of introducing non-financial measures and/or performance management systems to measure the performance of banks is still away from the strategies of Lebanese bankers. Moreover, the review of literature showed no evidence related to the evaluation of Lebanese banks using both financial and nonfinancial measures, mainly performance management system as the Balanced Scorecard. Accordingly, it is highly recommended encouraging banks to adopt the Balanced Scorecard as a complementary tool to measure performance, knowing that Lebanese banks are anticipated to face a new era of challenges due to the extraction of gas resources, the expected reconstruction process of Syria, and the development of the banking sectors in the Arab Gulf Area.
ANIS EL KHATIB , PIERRE AL-KHOURY. (2019) The Balanced Scorecard as a Measure for Performance of Banks in Lebanon: A Review of Literature, International Review of Management and Business Research, Volume 8, Issue 3.
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