FINANCIAL BANKING NEWS
NBD Doubles Reserves
Profits at the National Bank of Dubai (NBD), which leapt from Dh235mn to Dh349.5mn in 1984, continued to grow in 1985 to reach Dh374.9mn ($102mn). Total assets increased 12% to Dhl8.8bn ($5.1bn), while the loan portfolio fell 15% to Dhl.2bn. The bank's total reserves, which were greatly expanded during 1984 by a transfer of Dh650mn from hidden reserves were further increased in 1985, and its general reserves were doubled...