Financial and Banking News


National Bank of Sharjah Reports 47.5% Drop in Income 

The National Bank of Sharjah (NBS) - owned 26.4% by the Government of Sharjah and 73.6% by UAE nationals - has reported net income of Dh30.73mn ($8.37mn) in 1984, down 47.5% from Dh58.54mn ($15.95mn) in 1983. This sharp decline is attributable to an increase in the allocation for bad debts, non-performing loans and lower net asset worth from Dh5.29mn ($1.44mn) in 1983 to Dh23.65mn...