Financial And Banking News
Wedge Bank Increases Capital
The Beirut-based Wedge Bank, which commenced operations in Lebanon only last year with capital of LL75mn, has announced that its paid-in capital has been increased to LL215mn. Because of the rapid depreciation of the Lebanese Lira (LL) during this period, the current move merely re- stores the US$ equivalent of Wedge's capital base to its original level of around $13mn. Wedge is the youngest of all...