Central Banking

UAE central bank posts record high 2000 net profit

The United Arab Emirates (UAE) central bank said on Feb 17, 2001 it recorded its highest net profit at 1.61 billion dirhams ($435.6 million) in 2000, a 16 percent jump over the previous year. The bank said in a statement its assets and liabilities totalled 50.1 billion dirhams, nearly 28 percent above 1999 figures.Total net profits for local banks in the UAE reached 4.7 billion compared to 3.36 billion in 1999, the statement said. ($1=3.673 UAE Dirhams).