National Bank of Abu Dhabi's profits up

Last Updated: Tue, Jul 24, 2012 17:50 hrs

Abu Dhabi, July 24 (IANS/WAM) The National Bank of Abu Dhabi's (NBAD) net profits rose by 6.9 percent to 2,087 million dirhams (about $568 million) in the first half of 2012.

The figure was 1,953 million dirhams in the first half of 2011.

Net profits for the second quarter of 2012 at 1,046 million dirhams were also higher by 2 percent compared to the second quarter of the previous year at 1,026 million dirhams.

The annualised return on shareholders' funds for the first half is 16.9 percent in line with the targets for the medium-term.

NBAD chairman Nasser Alsowaidi said: "The Bank had another good quarter and continues to deliver a strong set of financial results."



More from Sify: