NBAD looks to the top line as loans boost its profits - The National

National Bank of Abu Dhabi (NBAD) reported a 2.5 per cent increase in second-quarter profits, buoyed by a rise in income from loans.

Net profit rose to Dh1.03 billion (US$280.4 million) compared with Dh1bn in the same period last year, the bank said.

'Our focus remains on top-line operating revenue,' said Michael Tomalin, the chief executive of NBAD, the UAE's second-biggest bank by assets. 'Given the weak global economy and some regional uncertainty, low interest rates and absence of any major exceptional items, this increase can be judged a fine achievement.'

* username: rupertbu