NBAD first quarter profit down but ‘momentum continues’ | The National:
"National Bank of Abu Dhabi, the biggest publicly traded bank in the UAE, said its first-quarter profit dropped 0.3 per cent year-on-year as interest rates at an eight-year low and competition for consumer clients lowered margins.
While NBAD has had the biggest profit among banks in the first three months of the year, the growth has bucked the trend of what has been buoyant quarterly advances for banks including First Gulf Bank and Emirates NBD, Dubai’s biggest bank.
NBAD’s net income fell to Dh1.406 billion from Dh1.409bn in the first quarter of last year, the Abu Dhabi-based lender said."
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