VOL. XXXI
NO. 28
18-APRIL-1988
Financial and Banking News
REGIONAL BANKING
Two UAE Banks Increase Profits
Two UAE banks affiliated to French banks reported higher profits last week.United Arab Bank, which is based in Abu Dhabi and is 20% owned by SocieteGenerale of France, nearly tripled its net income from Dh5.8mn to Dh17.1mn aftercutting its provisions for bad and doubtful debt from Dh16.8mn in 1986 toDh13.2mn in 1987. Loans increased from Dh623.5mn to Dh674.2mn, customer depositsincreased from...
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