Abu Dhabi: The net profit of the UAE Central Bank is expected to reach Dh2.7 billion in 2007.
After a meeting of the Board of Directors to discuss its 2007 budget, the bank said projected revenues were Dh4.65 billion against expenditures of Dh1.95 billion.
Expenditures include interest to be paid on Certificates of Deposits, the bank said. The board discussed and endorsed draft regulations for merchant and investment banks.
The meeting reviewed applications submitted by banks operating in the UAE to expand their business and open new branches.
It also reviewed and approved some applications to establish companies, to undertake financing activities and money- changing business.
UAE Central Bank sees Dh2.7b profit in 2007
UAE Central Bank sees Dh2.7b profit in 2007