NET PROFITS OF NATIONAL BANK OF ABU DHABI EXCEED DH 0.5 BILLION IN FIRST HALF OF PRESENT YEAR

Info-Prod Research (Middle East), July, 2004

According to Al-Bayan newspaper (July 11, 2004), the National Bank of Abu Dhabi posted a record net profit of Dh 503 million for the first half of this year, an increase of 28% compared to the same period last year. For the second quarter of the year net profits were up by 34% at Dh 287 million compared to the corresponding quarter last year and 33% up from the first quarter of 2004.

The annualized earnings per share (EPS) of Dh 10.69, represent a 28% increase over the same period of last year. The annualized return on equity reached 23.6% compared with 20.75% in the first half last year. The National Bank of Abu Dhabi has come a long way since it was founded by the government in 1968, to become the Number One Bank in the UAE, in terms of total assets, deposits and branch...

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