Financial and Banking News


NBAD Posts 53% Earnings Decline

Citing the 'uncertain business environment', the National Bank of Abu Dhabi (NBAD) last week announced a 53% fall in its profits from Dh198mn ($54mn) in 1982 to Dh104mn ($28.5mn) in 1983. Total assets (less contra accounts) dropped 8.4% from Dh17.9bn ($4.9bn) in 1982 to Dh16.4bn ($4.5bn) in 1983, although loans and advances posted a 12% gain.