Financial and Banking News
Top UAE Banks Show Modest Recovery in 1988
Results for 1988 released by the leading banks in the UAE show a modestrecovery in profitability, due mainly to a reduction in loan loss provisioning.However, due to relatively strong asset growth, the average return on assets ofthe major profitable banks in the country actually declined from 1.07% in 1987to 0.92% in 1988. When the effect of the large losses posted in 1987 by...
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