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Skip Navigation LinksHome :: Middle East and Africa :: UAE’s Dubai Bank to invest USD 5bn on acquisitions by 2013.

Monday, September 1, 2008

UAE’s Dubai Bank to invest USD 5bn on acquisitions by 2013.





UAE’s Dubai Bank to invest USD 5bn on acquisitions by 2013. UAE’s Dubai Bank plans to invest about USD 5bn on acquisitions and financial expansion over the next five years, Ahmed El Shall, the bank’s chief financial officer said. El Shall said that the bank has a specific strategy to be a major force to contend with in the Islamic bank arena by 2011. He added that there is a plan to establish two large Islamic institutions, although acknowledged that in the long term it may make sense to merge the two. The bank’s capital is AED 2.2bn (USD 599mn) including reserves and its assets amount to AED 16bn (USD 4.3bn).







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