Financial and Banking News


NBD Reports Big Growth

Extraordinary growth was recorded by the National Bank of Dubai (NBD) in 1984, especially considering the difficult trading conditions. A Dh650mn transfer from inner reserves has pushed up total published reserves to Dh927.4mn, of which general reserves account for Dh500mn. Profits in 1984 leapt up from Dh235mn to Dh349.2mn, while total assets more than doubled from Dh7.2bn to Dhl6.8bn.