Net profit of the National Bank of Abu Dhabi, or NBAD, fell 10 per cent year-on-year to Dh927 million in the first three months of the year, on “higher” provisions. However, earnings surged 27 per cent quarter-to-quarter.
“The annualised return on shareholders’ funds for the quarter is 17.2 per cent in line with the targets for 2011,” the UAE’s second-largest lender by assets said in a regulatory filing……………………………………….Full Article: Source