Financial and Banking News
Provisioning Cuts NBS Profits
Profits of the National Bank of Sharjah (NBS) fell from Dh30mn to Dh29mn in 1985 as a result of an increase in loan loss provisions from Dhl9.5mn to Dh24.3mn. The loan portfolio increased by 18.6% to Dh1,585.5mn, while there was a big drop in cash holdings as well as in the bank's investments, which fell from Dh148.2mn to Dh38.2mn. Interbank activity was reduced on both the asset and liability sides of the...