NO. 31


Financial and Banking News

Regional Banking

National Bank of Abu Dhabi Reports Lower Profits for 1990

The National Bank of Abu Dhabi (NBAD) reported profits of Dh90.2mn ($24.6mn)for 1990, a drop of 16% from 1989 profits of Dh107.2mn, despite a 53% reductionin provisions which fell to Dh50mn in 1990 from DH106.9mn in 1989. Operatingprofit fell to Dh152.0mn during the year from Dh220.6mn in 1989, apparentlycaused by a 27% fall in net interest income to Dh233.0mn from...