The BLOM Bank headquarters in Beirut. (The Daily Star/Mohammad Azakir)
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The Central Bank's financial engineering has beefed up the balance sheets of the Lebanese lenders and this was a credit positive in light of mounting risks, according to Moody's Investors Service report.The Lebanese banks purchased dollar-denominated financial instruments from the Central Bank.The Central Bank initiative substantially increased the banks' Lebanese pound-denominated currency reserves (close to LL19 trillion or $12.6 billion).It added that both BLOM Bank and Byblos Bank achieved significant exceptional revenues.
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