National Bank of Abu Dhabi (NBAD) reported 12% increase in net profits to Dhs1,041m for the quarter ended 31 March 2012 compared with Dhs927m earned in the corresponding quarter of 2011. Net profits increased by 44% over the fourth quarter of 2011.
The annualised return on shareholders' funds for the quarter is 17.2% in line with the targets for 2012 and the medium-term.
H.E. Nasser Alsowaidi, Chairman of NBAD said, "Regional and global uncertainties continue to have an overhang on business sentiments and growth. Despite this, NBAD continues to perform well, investing in its franchise, systems and most importantly, in its people. The solid foundation that has been build over the years provides a firm footing to explore new horizons and achieve ambitious targets in the decade to follow.
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