NO. 46


Financial and Banking News

Bank Results

Dubai Islamic Bank Shows the Strain of Exposure to BCCI

Dubai Islamic Bank has declared a profit of Dh21mn ($5.7mn), despite havingto deal with a huge exposure to BCCI. Profits in 1990 were Dh30mn. The bank'sresults for 1991 show an extraordinary provision of Dh54mn ($14.7mn) againstBCCI, but there are signs of strain in other areas of the profit and lossaccount. The bank's operating profit, before its cost of funds to...