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NBAD sees 41 percent increase in net profit
National Bank of Abu Dhabi (NBAD) reported…
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NBAD records 13 percent drop in Q4 profit
The bank’s full-year profits remained almost unchanged.
Oct 27th, 2009
National Bank of Abu Dhabi (NBAD) reported net profits of AED914 million ($248.8 million) in the third quarter of 2009, an increase of 41 percent compared with the AED651 million made during the third quarter of 2008. Profits for the first nine months of the year amounted to AED2.59 billion, 2.5 percent higher compared to the same period last year.
“The UAE banking sector remains stable assisted by a proactive regulatory framework that has contributed to the resilience of the banking system under the present tough global financial conditions,”
said Nasser Ahmed Khalifa Alsowaidi, chairman of NBAD said in the press release.
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