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Islamic Finance Briefing - Categorized | Banking, Performance more

NBAD net profit slips on extra provisions

Posted on 02 February 2010

From Thepeninsulaqatar.com: Higher than expected provisions for bad loans weighed on National Bank of Abu Dhabi’s (NBAD) fourth-quarter earnings, as the bank planned for a further decline in credit quality in 2010.

The bank, Abu Dhabi’s largest by market value, said yesterday net profit dropped 13 percent to Dh429m ($116.8) in the three months ended December 31, due to higher impairment charges…………………………………..Full Article: Source

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