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| NBAD OPENS 28TH BRANCH IN EGYPT:
The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has inaugurated its 28th branch in Egypt in line with the Bank’s strategy to expand its branch network in Egypt to 50 branches over the next few years.
The new El Hegaz Branch in Helioplis in eastern Cairo is strategically located in a commercial area of the Egyptian capital.
“NBAD opened its first overseas branch in Cairo in 1975. Since then, Egypt remains an important and critical market for us as can be w...
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| FIRE ERUPTION IN NBAD - EGYPT REGIONAL OFFICE:
A fire erupted on the 18th floor of NBAD Regional Office around 7:00 a.m. on Wednesday, August 4, 2010. The cause of the fire is currently being investigated but it is believed to be an electrical short circuit. There were no losses or injuries.
As the fire was quickly contained, the damage is limited and no customer data has been lost or corrupted as all important original files & documents are kept in fire proof cabinets and are therefore safe & undamaged.
Work at NBAD branches has n...
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| NBAD'S H1 NET PROFITS RISE 21.1% TO EXCEED AED 2 BILLION:
The National Bank of Abu Dhabi (NBAD) earned net profits of AED 2,032 million, 21.1% up compared with AED 1,677 million in June 2009. Net profits for the second quarter were AED 1,001 million, up 10.4% on AED 907 million achieved in the corresponding quarter of 2009.
The Chairman of NBAD Mr. Nasser Ahmed Khalifa Alsowaidi said: “In spite of the challenging market conditions, NBAD posted solid financial results for the second quarter and first half of 2010. The Group continues to benefit...
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| NBAD'S GROUP CHIEF EXECUTIVE WINS LIFETIME ACHIEVEMENT AWARD::
The National Bank of Abu Dhabi's (NBAD) Group Chief Executive, Michael H. Tomalin, has won the CEO Lifetime Achievement Award from Banker Middle East.
Mr. Tomalin joined NBAD as the Chief Executive in 1999. In that year the Bank earned AED311 million. Since 1999, under Mr. Tomalin’s steady and far-sighted leadership NBAD’s net profit has grown each year to reach AED3 billion at the end of 2009, an amazing 10 fold increase in the bottom line. During this 10-year period, NBAD has grown at...
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| NBAD CONSORTIUM WINS LE 7.2 BILLION LANDMARK FINANCE DEAL FOR ETISALAT MISR:
After a fierce competition, the consortium including National Bank of Abu Dhabi, National Bank of Egypt, and Banque Misr, wins the finance of Etisalat Misr Corporate deal amounting to an aggregate amount of EGP 7.2billion being one of the flagship deals to be concluded in 2010.
National Bank of Abu Dhabi is the sole underwriter of the USD Tranche amounting to USD300mln under the facility, in addition to being partial underwriter of EGP230mln under the EGP tranche amounting EGP 5.5billio...
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| NBAD Q1 NET PROFITS UP 34% TO AED 1,031 MILLION:
National Bank of Abu Dhabi (NBAD) earned net profits of AED 1,031 million in the first quarter of 2010, compared with AED 429 million the December quarter of 2009. This is the highest net profit ever recorded by the Bank in a single quarter.
Compared with the March quarter 2009, net profits rose by 34% from AED 770 million. Annualised diluted earnings for the first quarter were AED 1.67 per share.
Net impairment charges for March 2010 were AED 225 million of which collective ...
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| NBAD PARTICIPATES IN EARTH HOUR:
The National Bank of Abu Dhabi (NBAD), a socially-responsible company, proudly observed Earth Hour on March 27th and actively promoted the occasion leading up to it.
Starting at 8:30 p.m. the Bank’s landmark head office, NBAD Tower, was markedly dark for an hour as all the lights inside the 30-storey tower were turned of in observance of Global Earth Hour.
“As a socially-responsible company, NBAD leads by examples on issues that impact Abu Dhabi and mankind as a whole. It is f...
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| NBAD WINS DEAL OF THE YEAR AWARD AGAIN:
The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has won a second "Deal of the Year" award from a prestigious publication for the US$850 million (AED 3.12 billion) fixed-rate notes, which was launched in September 2009.
The Banker magazine, published by the Financial Times Group, selected the deal as the winner of the FIG – Deal of the Year 2010 for the Middle East Region. The transaction was completed by NBAD’s Financial Market Division. Recently, Euroweek, a Lond...
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| NBAD LAUNCHES U.S. $750 MILLION FIXED-RATE NOTES:
The National Bank of Abu Dhabi ("NBAD") successfully launched a US dollar five-year transaction under its US$5 billion EMTN Programme. Bank of America Merrill Lynch, Barclays Capital, HSBC and National Bank of Abu Dhabi acted as joint-bookrunners in the notes, which represents the first international public benchmark transaction by a GCC Financial Institution in 2010.?
Official price guidance of midswaps plus 180bp area was released on Thursday 18 March 2010 at 7:30am London time. The s...
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| NBAD'S FIXED-RATE NOTES WINS DEAL OF THE YEAR AWARD:
The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, won the Deal of the Year Award from EuroWeek for its US$850 Million fixed-rate notes launched last year.
The five-year Medium Term Note launched under NBAD's European Medium Term Note (EMTN) programme represented the first US dollar-denominated international public transaction by a GCC Financial Institution since 2007, which has successfully established a benchmark and a new pricing reference for GCC financial inst...
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| NBAD WINS RETAIL BANK OF THE YEAR AWARD:
The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has won the Retail Bank of the Year as judged by Arabian Business Achievement Awards 2009.
Celebrating its 10th year in 2009, Arabian Business Achievement Awards recognize each year business achievements in both corporate and business levels.
“We are delighted that National Bank of Abu Dhabi (NBAD) has been recognized as the most accomplished retail bank in a year of stiff competition and challenging market ...
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| NBAD LAUNCHES OPERATIONS IN HONG KONG:
National Bank of Abu Dhabi (“NBAD”), one of the largest banks of the United Arab Emirates (“UAE”), announced the launch of its first branch in Hong Kong, heralding the beginning of its operations in Asia. NBAD is the banker to the Government of Abu Dhabi, which owns 70.48% of the Bank’s equity through the Abu Dhabi Investment Council.
Founded in 1968 and listed on the Abu Dhabi Securities Exchange, NBAD has the largest international presence with 45 branches in 11 countries: Oman, Kuwai...
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| NBAD SUISSE ACQUIRES A PRESTIGIOUS BUILDING IN GENEVA:
NBAD Private Bank (Suisse) SA, the 100% owned private banking subsidiary of the National Bank of Abu Dhabi (NBAD), has successfully acquired its premises, a prestigious building at 5, Quai de l’Ile in Geneva.
The building, situated on the exclusive island at the end of the famous luxury goods shopping street of Rue du Rhône, has been the home of NBAD Private Bank (Suisse) SA since its launch in mid 2007.
Khaled Suleiman, General Manager of NBAD Private Bank (Suisse) SA commente...
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| NBAD'S EXPOSURE TO DUBAI WORLD GROUP:
As at 29 November 2009, National Bank of Abu Dhabi (NBAD) had US$345 million exposure to the Dubai World Group comprising the following:
US$ 114 million nominal invested in the Nakheel December 2009 Sukuk and marked Available for Sale and marked to market through equity;
US$ 6 million nominal in the same bond held in our Trading Portfolio and marked-to-market;
General corporate loans of US$ 100 million and US$ 125 million to Nakheel and Limitless respectively
NBAD has no expo...
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| NBAD'S Q3 NET PROFIT RISE 41% TO AED 914 MILLION:
National Bank of Abu Dhabi (NBAD) recorded net profits of AED 914 million in the third quarter of 2009, an increase of 41% compared with AED 651 million for the third quarter of 2008. Cumulative profits for the nine months amounted to AED 2,591 million, 2.5% up on the comparable period of 2008 and representing an annualised EPS of AED 1.53 compared with the previous corresponding period of AED 1.51. Annualised return on equity (ROE) was 22.5% and in line with NBAD's target of 20% for the current...
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