NO. 24


Financial and Banking News

Bank Results

National Bank of Dubai Cuts Dividend As Profits Fall Again

National Bank of Dubai (NBD) saw profits fall for the third year in asuccession during 1993 as a result of declining international interest rates.The balance sheet also shrank due to lower customer deposits. As a result, thebank has cut its traditional 40% dividend to 30%. The bank's returns on equityand assets are now below average for the region, although its income...