VOL. XXXVI
NO. 26
29-MARCH-1993
Financial and Banking News
BANK RESULTS
National Bank of Dubai Declares Reduced Profits due to Falling InterestRates
Profits at National Bank of Dubai (NBD) fell for the second year insuccession in 1992 due to declining international interest rates. Declaredprofits of Dh338.5mn ($92mn) were down 18% on 1991 and were the lowest since themid-1980s. Nevertheless, the bank has maintained its customary 40% cash dividendand is financially sound.
As Dubai's national bank,...
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