Table of Contents
- NBAD looks to Turkey, Asia to expand bond mandates business
- NBAD's Q4 Profit Beats Estimates
- Buy Media Monitoring paper online
- Abu Dhabi's NBAD retains 'MidEast's safest bank' title
- NBAD Inaugurates Business Banking Centre in Ajman
- NBAD Participates In Earth Hour 2013
- NBAD Issues Uridashi Bond in Japan
- NBAD Named Best Asset Management House
- NBAD Launches Expat Pension and Savings Plan With Royal Bank of Canada
- Related Business essays
NBAD looks to Turkey, Asia to expand bond mandates business
The largest lending bank by market share in the United Arab Emirates, the National Bank of Abu Dhabi (NBAD) has announced its entry in Asia and Turkey markets. The report by Reuter has confirmed that the National Bank of Abu Dhabi (NBAD) is targeting to seal about five bond arrangement deals in the next six months. According to the bank’s head of debt capital market, Fawaz Abu Sneineh, this financial institution has seen opportunities outside its traditional Middle East market, with Turkey and Asian companies looking for issuance of bonds. The entry of NBAD to Asia and Turkey markets is part of expansion strategies that will see the bank becoming the market leader.
NBAD's Q4 Profit Beats Estimates
According to the experts, this bank has reported a 55% rise in net profit for the fourth quarter beating the forecast the analysts had given. According to report, the bank realized a net profit worth Dhs 1.12billion ($305.2m) for the fourth quarter while last year’s fourth quarter net profit was Dhs 724million. The bank has posted a full-year profit of Dhs 4.33billion representing a 16.8% rise compared with last year profit of Dhs 3.71 billion, this has been boosted by the rise in the fourth quarter profit which soared above the analyst’s predictions.
Abu Dhabi's NBAD retains 'MidEast's safest bank' title
According to Global Finance magazine, the National Bank of Abu Dhabi (NBAD) is the safest growing financial institution in the Middle East. Recently this bank was ranked one of the secure banks in the world. The Global Finance whose private analysis of the regional banks provide a benchmark in which other institutions can use to compare with their counterparts. This puts NBAD at position 31 ahead of National Bank of Kuwait, which is ranked 35th and Qatar National Bank (42 nd ).Its stability however has raised concerns to other players but according to the experts, it has been contributed by its strength strategies during harsh economic times. Other financial players of the world such as banks in Canada have survived despite the economic crisis that was felt in 2007. However, their ratings have been affected due to such uncertainties.
NBAD Ranked Second In ‘Top 10 Abu Dhabi Securities Exchange Companies’
The recent ranking has placed the National Bank of Abu Dhabi (NBAD) in the number two among the 10 best Abu Dhabi Securities Exchange Companies’ due to its market value and strong performance in net profit. The National Bank of Abu Dhabi (NBAD) posted Dh 3,707,547,000 and Dh 31,426,973,817 in term of net profit and market value respectively placing it at the second position. The Deputy Group CEO, Abdullah M.S Abdul Raheem attributed these splendid results to bank’s smart and prudent use of funds and growth management. This was despite operating in an instable economic region. Mr. Raheem added that, the strategy has enabled the bank to overcome tough prevailing market conditions and maintain its market growth, hence emerging as the most profitable bank in United Arab Emirate.
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Germany’ KfW was placed as the world safest bank followed by Bank Nederlandse Germenten in second position and Zurcher Kantonal bank of Switzerland in third position. With the bank stability becoming a pressing concern for the world’s investors, it is emerging that economic uncertainty is affecting the rating of financial institution particularly in the developed markets. At the same period, institution from emerging markets such as Korea, Chile and Middle East are taking their positions. For example, Industrial Bank of Korea and Korea Finance Corp appeared in the list for the first time. Notably, the biggest climber from the prior year’s ranking was BancoEstado of Chile that moved up six positions from 42 to 36. It was followed by Svenska Handelsbanken, which moved up 5 positions and Nordea which moved 4 positions upward.
NBAD Inaugurates Business Banking Centre in Ajman
The National Bank of Abu Dhabi (NBAD) has launched a new business banking center that target small and Medium- sized enterprises (SMEs). The center, which is located in Ajman, is strategically positioned to meet the needs of SME clients and offer them comprehensive banking solutions for their businesses. According to Abdulla Al Otaiba, the Senior General Manager of the Domestic Banking Division, the National Bank of Abu Dhabi (NBAD) has recognized the contribution the SME make to the growth of the economy in United Arab Emirate. SME specialists run the new facility and a pool of experienced personnel talented to offer customers’ product tailored to meet their needs, Mr. Otaiba added.
The Ajman facility follows other recently launched Business Banking Centre in Free Trade Zone at Ras Al Khaimah. Other service launched to support SMEs and facilitate their growth includes, NBAD Visa Business Credit Card, E-Business Banking, Rent Finance and Vehicle Finance. The National Bank of Abu Dhabu (NBAD) has in addition opened four Business Banking Centers in Dubai, four in Abu Dhabi, other three in Ras Al Khaimah, Sharjah and Al Ain. The National Bank of Abu Dhabi (NBAD) is administering Khalif Fund in partnership with Khalif Fund for Enterprise Development in addition it has signed a memorandum of understanding with various institutions such a RAK FTZ, Dubai SME and chambers of commerce from Abu Dhabi and Dubai.
NBAD Participates In Earth Hour 2013
In the matter of environment, for last four years The National Bank of Abu Dhabi (NBAD) has joined others million globally to observe Earth Hour, which is the largest environment campaign. The National Bank of Abu Dhabi (NBAD) will turn off all lights at its head office in Adu Dhabi and at its Bank Khalidiya office starting 8.30 p.m. According to Belinda Scott, the Senior Manager of Corporate Sustainability, the main aim of the occasion, which is held on March 23 every year, is to encourage positive actions toward the environment and to raise environment awareness within the community. It focuses on the need to adopt a sustainable and responsible lifestyle. The event has been celebrated globally since 2007 and is organized through cooperation between World Wide Fund for Nature and Emirates Wildlife Society. The event’s aim is to highlight the risks posed by climate change and encourage individuals and organizations to practice energy conservation and reduce carbon emissions. Ms. Scott added that, the company encourage everyone to take part in the initiative to save the earth and its resources; protection of the environment should be everyone’s’ responsibility.
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NBAD Issues Uridashi Bond in Japan
The National Bank of Abu Dhabi (NBAD) has launched a 15-year Uridashi bond in Japan, thus becoming the first Middle Eastern and North African financial institution to issue Samurai bond. The bond is worth Dh 60.1 million equivalents of $ 16.6 million. NBAD now will have direct access to Japanese retail and institutional investors, and since the notes are foreign, currency dominated will help investors to benefit from higher interest rates. The latest notes, which are Mexican Peso (MXN) dominated is distributed in Japan under the National Bank of Abu Dhabi (NBAD) shelf registration. The issuance of this bond has pushed NBAD to a milestone helping the bank to build a global platform. It has also time diversified its funding base and thus extended its liability profile. According to ratings by Standard and Poor, NBAD’s long term/short term rating is A+/A-1; the other scores include: A+ by Rating and Investment Information Inc(R&I), Fitch’s AA-/F1 and that of Moody Aa3/P1 , this significantly showed NBAD as the strongest financial institution in the Middle East region.
NBAD Named Best Asset Management House
The National Bank of Abu Dhabi (NBAD) for the second year running has scoped the Best Asset Management House awarded by the International Takaful Awards. The award, which considers the financial achievement and client survey, recognized NBAD Asset Management Group for its superb performance and its innovation while giving Shari ‘a – compliant products. Applauding the achievement, Alan Durrant, the group Chief Investment officer who is also the General Manager of the Investment Group said that, the win has confirmed the firms continued delivery of innovative products that meet customers highest expectations and contribution to the asset management development in the region.
NBAD Launches Expat Pension and Savings Plan With Royal Bank of Canada
The National Bank of Abu Dhabi (NBAD) under National Bank of Abu Dhabi Trust Company and Royal Bank of Canada have launched a company pension and savings plan for expatriates working in UAE bringing together institutions that are the world’s most robust and secure in a working relation. The scheme-Wealth Builder Plan will be under custodian and administered by The Royal bank of Canada. The scheme differs from the one in existence where both the employee and company will be making regular monthly contributions to an investment fund. This will influence freeing of funds previously held under service gratuities into saving plan. The scheme is offering three levels of risk. Employees who are about to retire take lower risks, while younger ones take bigger risks in the hope of bigger gains. The benefits accrue to this scheme helps the company’s human resource management to retain staff members. The scheme does not put limits to the salary or request for other qualifications. The scheme’s risks of going under are minimal as it is under the custody and administration of the world’s safest banks. Being under honest custodians, the fees are expected to remain steady, as there is no room for portfolio manipulation in order to generate commission income. This is because it happens to corrupt operators in the market.
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In conclusion, the National Bank of Abu Dhabi (NBAD) has been reported to have grown and expanded tremendously; the bank has contributed in economic growth of United Arab Emirates and the neighboring countries besides venturing into the global markets. NBAD innovative and determination to provide superior services has placed among the best and secure banks in the world. NBAD has collaborated with other institutions, which are global leaders to give exclusive services that satisfy its clients; thus enabling the bank to grow both locally and internationally. NBAD involvement in environmental conservation and supporting environment awareness has placed it as the region leader in conservation matters. To crown it,NBDA has retained its esteemed title as the safest bank in the world despite harsh economic times. This show how good leadership and management skills when utilized appropriately can move an organization a step further.