Financial and Banking News
UBME Anncunces 1986 Profit
The Dubai-based Union Bank of the Middle East (UBME) last week announced a net profit of Dh22.6mn ($6.1mn) for the year 1986, the first time the bank has revealed a profit and loss account since April 1984, prior to its absorption of two failed local banks - Dubai Bank Ltd. and Emirates National Bank. Last year UBME released details for its as- sets and liabilities in 1985 (MEES, 13 October 1986) which indicated total reserves of...
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