NO. 21


Financial and Banking News

Bank Results

National Bank of Dubai Sees Profits Fall

Profits at National Bank of Dubai (NBD) fell in 1991 for the first time inrecent memory, but the bank has retained its customary 40% dividend. The 11%fall in profits, to Dh412.8mn ($112mn), is due to reduced international interest rates and it illustrates the limitations of the bank's highly conservativebusiness strategy.

NBD's raison d'etre is to act as banker to the Government of...