NO. 21


Financial and Banking News

Regional Banking

EBI Recovery Picks Up Steam

Unlike National Bank of Dubai (NBD), its nearest rival in the Dubai bankingmarket, Emirates Bank International (EBI) is not accustomed to year after yearof healthy profits. EBI was formed as the result of the forced merger of threenear-brankrupt private local banks - Union Bank of the Middle East, Dubai Bankand Emirates National Bank - in 1985-86, and the Government of Dubai, whichfinanced...