No. 05



Generally Robust Results Tempered By Warning From Central Bank Of UAE

  • Profits at Dubai-based Mashreqbank jumped by 39% to a record Dh486mn ($132mn) - despite being hit by rumors late in the year that it was heavily exposed to the South East Asian crisis. The bank's chief executive, Mr. Abd al-Aziz al-Ghurair, did not disclose the volume of deposits that had been withdrawn during the crisis but would say only that the majority of them had been returned. He...