The bank also said that profit attributable to shareholders rose by $15.6m, from $4.4m during the first three months of 2007 to $20m in the first three months of 2008. Return on equity is now at 25.2 per cent and earnings per share at $0.1.

Its license with the Dubai Financial Services Authority has also been upgraded, allowing Unicorn Capital Dubai to act as the banks direct investment arm, as well as its current role in distributing and managing investments.