The National bank of Dubai (NBD) recorded a 41 percent net profit increase in the first half of 2002, reaching 272.5 million Emirati dirhams ($74 million) compared to Dh 193.9 million for the same period last year.
NBD’s net operating income for the first six months of the year totaled Dh 454 million compared to Dh 339.3 million for the first half of 2001. Total assets increased by 4.38 percent and customer deposits increased by 6.6 percent during the first half of 2002.
NBD operates as a public joint stock company. Founded in 1963, NBD is the oldest locally incorporated bank in the southern Gulf. From its new Dubai headquarters it operates 26 branches and pay offices in the United Arab Emirates and two branches in London. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
