NBAD okays distri­bu­tion of 35% cash div­i­dends

The Pak Banker - - 6BUSINESS -

The Na­tional Bank of Abu Dhabi's (NBAD) an­nual gen­eral meet­ing (AGM) ap­proved the distri­bu­tion of cash div­i­dend of 35% and stock div­i­dend of 10% for the fi­nan­cial year ended 31 De­cem­ber 2012. The meet­ing, con­vened un­der the chair­man­ship of His Ex­cel­lency Nasser Ahmed Khal­ifa Al­sowaidi, the Chair­man of the NBAD Board of Direc­tors, re­viewed and ap­proved the Direc­tors' report, au­di­tor's report and the fi­nan­cial state­ments for the year end­ing 31 De­cem­ber 2012. Ad­dress­ing the Bank's share­hold­ers, Mr. Al­sowaidi said NBAD per­formed well in 2012 de­spite chal­leng­ing eco­nomic con­di­tions. This strong per­for­mance in un­cer­tain times re­flects the strength of the Bank's global di­ver­si­fied busi­ness model as well as the qual­ity of the Bank's staff, our sin­gle most valu­able as­set. NBAD's net prof­its grew 17% to AED 4.3 bil­lion for the full year 2012.

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