The National Investor (TNI), one of the region's leading merchant banks, said it has posted consolidated net profits of Dh34.9 million ($9.5 million) and consolidated revenues of Dh122.6 million in the first half 2008.

The chairman of the Abu Dhabi-based institution, Abdullah M Al Mazrui, said: 'This is an honourable achievement and we are satisfied with this performance considering current market conditions, which is testament to our diversified business model.

'Whilst we anticipate that the financial climate will be challenging in the coming months, TNI is confident it will continue to consolidate its position as one of the UAE's most established banking institutions,' said Orhan Osmansoy, CEO of The National Investor. - TradeArabia News Service