VOL XXXI

NO. 20

22-FEBRUARY-1988

Financial and Banking News

REGIONAL BANKING

NBRAK Profits Rearly Double

One of the smallest banks in the UAE, the National Bank of Ras al-Khaimah (NBRAK),nearly doubled its net income for 1987, from Dh6.5mn in 1986 to Dhl2.6mn, mainlyas a result of cutting its loan loss provisions from Dhll.4mn to Dh6.3mn.However, the bank did record a 9% increase in net operating income from Dh29.2mnto Dh31.8mn. It has announced a 6% cash dividend after three consecutive yearsof 5%...