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Dubai’s Noor Islamic Bank says it may break even this year

Hussain Al Qemzi, chief executive of Dubai's Noor Islamic Bank has said the lender could break even in 2011, a year ahead of target, and will consider merger and acquisition opportunities later to expand overseas, Reuters has reported. Business has been unaffected by the Middle East conflict and the bank posted a profit of Dhs58m ($16m) in the first four months of 2011, Al Qemzi said. "We've seen a lot of flow of liquidity and cash and we've seen a growth in retail and travel," he said. "Actually, it's not negative."