NO. 22


Financial and Banking News

Bank Results

National Bank of Fujairah Continues to Improve Profits

National Bank of Fujairah saw profits rise by 8.6% during 1990 to Dh15.2mn($4.2mn) from Dh14.0mn in 1989. The bank benefits from a low cost of funds -interest income of Dh40.3mn in 1990 compared with interest expense of Dh17.7mn.A dividend of 8% is proposed. Customers' deposits increased by 23% over theyear, bucking the regional trend of falling or static deposits resulting...