Financial and Banking News
UBME Declares 39% Profit Growth
Union Bank of the Middle East (UBME), the government-owned Dubai bankinggroup which amalgamates three failed local banks and their subsidiaries, hasdeclared a 39% increase in profits in 1987, from Dh22.6mn to Dh31.4mn. UBME'smajor achievement, however, was in publishing a full balance sheet at all, sincerecent years its disclosure has been restricted to summary statements. The UBMEgroup's...