National Bank of Abu Dhabi posts 41% rise in Q3 profit - Smartest Banks 2009

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National Bank of Abu Dhabi posts 41% rise in Q3 profit

Raissa Kasolowsky

Tuesday, 27 October 2009

The UAE's National Bank of Abu Dhabi posted a third-quarter net profit of AED914m ($248.8m) on Tuesday, up 41 percent from the same quarter last year.

NBAD made a net profit of AED651m in the third quarter of 2008.

NBAD said impairment charges for the quarter stood at AED2840m. Total provisions for non-performing assets reached AED2.25bn, the bank said in a statement on the bourse website.

The lender posted a net profit of AED2.6bn in the first nine months of the year, it said. (Reuters)

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