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National Bank of Abu Dhabi posts 41% rise in Q3 profit

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Tuesday, 27 October 2009
Q3 PROFIT: NBAD posted a net profit of $248.8m for the third quarter. (ITP Images)
Q3 PROFIT: NBAD posted a net profit of $248.8m for the third quarter. (ITP Images)

The UAE's National Bank of Abu Dhabi posted a third-quarter net profit of AED914m ($248.8m) on Tuesday, up 41 percent from the same quarter last year.

NBAD made a net profit of AED651m in the third quarter of 2008.

NBAD said impairment charges for the quarter stood at AED2840m. Total provisions for non-performing assets reached AED2.25bn, the bank said in a statement on the bourse website.

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The lender posted a net profit of AED2.6bn in the first nine months of the year, it said. (Reuters)

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more » MIDDLE EAST MARKETS DATA

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+0.25+1.90%

19 Nov 2009 09:59 GMT
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