FINANCIAL BANKING NEWS

REGIONAL BANKING

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...