NO. 19


Financial and Banking News

Bank Results

Mashreq Bank Profits Move Ahead 20% In 1994

Dubai-based Mashreq Bank (which used to be called Bank of Oman) increased itsprofits to Dh300.9mn ($82mn) in 1994, up 20% on the previous year. Theimprovement arose mainly from higher interest income, although non-interestincome also registered a reasonable increase. UAE Central Bank regulationsrestricting the amount of securites which local banks may hold have shieldedMashreq...