NO. 22


Financial and Banking News

Regional Banking

Commercial Bank of Dubai Reports Profit Increase

The Commercial Bank of Dubai, which is 20% owned by the Dubai Government andwhose private sector shareholders include a number of prominent Dubai merchantfamilies, has reported profits of Dh36mn in 1989, earning it a remarkable 2.88%return on average assets. After a period of stagnation in the mid-1980s, thebank has begun a cautious expansion, although it remains highly...