NBAD Bank said its balance sheet growth was strong year-over-year, driven by a strong uptick in lending.
Nasser Alsowaidi, chairman of NBAD, said: "In the first half of 2015, NBAD delivered consistent profits in an increasingly difficult environment." National Bank of Abu Dhabi's net profits rose one per cent year-on-year to Dh1.446 billion in the second quarter of 2015 as a decline was seen in earnings from fees and commissions.
The lender said that "its balance sheet growth was strong year-over-year, driven by a strong uptick in lending".
In the second quarter ended June 30, 2015, NBAD said continued lending growth combined with a decline in customer deposits resulted in a higher loanto-deposit ratio.
Net interest income including income from Islamic financing was up five per cent year-on-year to Dh1.840 billion in the April-June period, while non-interest income was up six per cent year-on-year to Dh878 million. -Afp