NBAD Q4 Net Profit Edges Down

Net profit for the quarter was Dhs1.08 billion, slightly lower than Dhs1.12 billion in the year-ago quarter.



National Bank of Abu Dhabi, the largest lender by market value in the United Arab Emirates, posted fourth-quarter profit that fell marginally from a year earlier, in line with analysts’ estimates.

NBAD, majority-owned by the Abu Dhabi government, said on Tuesday that net profit for the quarter was Dhs1.08 billion ($294 million), slightly lower than Dhs1.12 billion in the year-ago quarter.

Six analysts polled by Reuters had forecast quarterly net profit of Dhs1.10 billion.

Full-year net profit rose nine per cent to Dhs4.73 billion, NBAD said, adding that it was recommending a cash dividend of Dhs0.4 per share for investors.