gulfnews : NBAD sees rise in non-performing loans this year

National Bank of Abu Dhabi expects non-performing loans (NPLs) to spike this year but sees its lending surpassing the market growth rate, its CEO told Reuters Wednesday.

Michael Tomalin also said the bank, which is majority-owned by the Abu Dhabi government, expects 10 per cent revenue growth in 2011 but sees profit growth depending on the level of provisions.

NBAD reported a second-quarter net profit of Dh1.03 billion last week, up 2.5 per cent over the same period last year.

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