VOL. XXXI
NO. 34
30-MAY-1988
Financial and Banking News
REGIONAL BANKING
NBAD Loses $38mn after Heavy Provisioning
National Bank of Abu Dhabi (NBAD) has posted a loss of Dhl40.7mn ($38mn) in1987 as a result of heavy provisioning for loan losses, which increased fromDhl64.4mn in 1986 to their highest ever level of Dh233.8mn ($64mn) in 1987.Apart from the extra provisioning, NBAD's operating income was severely cut backin 1987. Net interest income dropped by 5% to Dh258.3mn, while fee income fellby...
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