Financial and Banking News
Two UAE Banks Announce 1987 Results
Two banks in the UAE have recently announced their 1987 results. The NationalBank of Umm al-Quwain (NBUQ) reported a 31.6% drop in profits to Dh21.2mn($5.8mn) in 1987 from Dh31.0mn ($8.4mn) in 1986, and for the second successiveyear a 7.5% dividend is to be paid to shareholders. The bank has also made someprovisioning for bad debts, without revealing the amount. Total assets increasedby...