(MENAFN) Dubai-based Noor Bank has cut dozens of jobs, while the number of jobs cut in the past few weeks was in the high double-digits.
Accordingly, the Bank has seen notable increase over the past few years and following a robust evaluation, believes that is the time to streamline its function.
However, banking profits in the Gulf have declined in the past two years as lenders contend with more subdued levels of economic growth.
In addition, the bank has close links to Dubai, with 87.8 percent of the lender owned by the emirate's government.
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