VOL. XLI
No. 45
9-November-1998
UAE
UAE Banks Record Steady 1997 Performance
The 1997 financial results for UAE banks reflect a strong upturn inprofitability for all but two institutions, with an average profit growth of 32.1% butwide disparity between individual banks. Commercial Bank International witnessed a 14.7%decline in profits, while the National Bank of Ras al-Khaimah reported an increase of85.9%. Assets of the 18 banks included in this survey increased by 11.3% to a total of$37.4bn....
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