Traded as ADX: NBAD Website www.nbad.com Total assets 178 billion USD (2016) Group chief financial officer James Burdett | Industry Banking Headquarters Abu Dhabi Founded 1968 | |
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Type Public Joint Stock Company Products Loans, Savings, corporate banking, project finance, corporate advisory, treasury, leasing, property management, Islamic banking. CEO Abhijit Choudhury (15 Aug 2016–) Founder Zayed bin Sultan Al Nahyan Subsidiaries NBAD Private Bank (Suisse) SA Profiles | ||
National Bank of Abu Dhabi (NBAD) (Arabic: بنك أبوظبي الوطني) is a bank operating in the United Arab Emirates. NBAD is the largest lender bank in the Emirate of Abu Dhabi and the second largest lender in the United Arab Emirates. NBAD has the largest market capitalization among UAE banks.
Contents
- Solarpv tv presents national bank of abu dhabi 10 us billion commitment in sustainable businesses
- History
- Ownership
- International network
- Islamic Banking
- Sponsorships
- Credit Rating
- Structure Businesses
- Subsidiaries
- Executives
- Board of Directors
- Senior Management
- References
NBAD’s Head Office is 1 NBAD Tower in Abu Dhabi, UAE. The Bank will build a new Head Office in Abu Dhabi’s Al Maryah Island, which will house the future Abu Dhabi Financial District.
NBAD’s line of businesses include a whole range of retail banking, corporate, wholesale and investment banking, wealth management and private banking; as well as Islamic banking, brokerage, property management and leasing.
NBAD set up a regional financial base in India in 2015 as part of its overseas expansion strategy,
NBAD has regional presence in Kuala Lumpur, Hong Kong and a representative office in Shanghai, China. The bank is also expanding to the South Korean market to expand its presence in Asia. In October 2012, the bank announced that it is planning to triple its contribution from Islamic banking by introducing sharia-compliant services in Oman and Malaysia.
NBAD's international branch network, the largest among UAE banks, spanned across 17 countries in five continents, from the Far East to Americas.
Solarpv tv presents national bank of abu dhabi 10 us billion commitment in sustainable businesses
History
NBAD was founded in 1968, the emirate of Abu Dhabi’s first bank.
NBAD is the first UAE bank to expand overseas with the opening of its branch in Cairo, Egypt, in 1975. This was followed by expansion to Sudan and Oman in 1976, the UK in 1977, USA and France in 1979. Its network now reaches to 17 countries across five continents.
Ownership
NBAD is a Public Joint Stock Company with majority ownership by the Abu Dhabi Investment Council (ADIC). As of 31 December 2013, 70.2% of shares are owned by ADIC and 21.9% are owned by individuals. The remaining shares are owned by Government, corporate and private institutions.
International network
NBAD expanded outside the UAE in 1975 with the launch of its branch in Egypt. Today, NBAD operates in 17 countries through branches, subsidiaries and representative offices. Overall, NBAD has nearly 60 branches and offices outside the UAE; Hong Kong, Malaysia (subsidiary), Oman, Bahrain, Kuwait, Jordan, Egypt, Sudan, Switzerland, through its subsidiary NBAD Private Bank (Suisse) SA, France, UK, the United States through its subsidiary Abu Dhabi International Bank. NBAD also has representative offices in Shanghai, China, São Paulo, Brazil, and Beirut, Lebanon. NBAD has said its growth strategy is based on expansion across the West-East Corridor, which it defines the area stretching from West of Africa to East of Asia. It has further said that it plans to build five international bank franchises across the West-East Corridor.
Islamic Banking
Sharia-compliant banking at NBAD is offered through its subsidiary Abu Dhabi National Islamic Finance Company. ADNIF was founded in 2008.
Sponsorships
NBAD serves as the Official Bank of Formula One Abu Dhabi Grand Prix, the first time held in Abu Dhabi in 2009, and in the subsequent years: 2010, 2011, 2012, 2013, 2014, 2015.
Credit Rating
Global Finance, has ranked NBAD for the fifth consecutive year among its ‘World’s 50 Safest Banks’.
On 10 October 2013, Standard & Poor's Ratings Services has raised the National Bank of Abu Dhabi 's credit rating based on the strong link with the Government of Abu Dhabi and the important role the bank plays within Abu Dhabi. S&P raised NBAD's long- and short-term counterparty credit ratings on NBAD to 'AA-/A-1+' from 'A+/A-1'. The credit rating agency also affirmed NBAD 's "Stable" outlook.
NBAD is also rated Aa3/P1 by Moody’s, AA-/F1+ by Fitch, A+ by Rating and Investment Information Inc (R&I) Japan, and AAA by RAM (Malaysia).
Structure & Businesses
NBAD Group was restructured its business operations into three units in 2013: 1. Global Wholesale 2. Gulf Retail and Commercial, 3. Global Wealth
In addition, the Bank has Two Geographies managing the franchise in each country, operating under NBAD’s Gulf & International. The Geographies are 1. Gulf 2. International
Subsidiaries
Abu Dhabi Capital Markets NYC
Executives
Soon after the announcement of NBAD's merger with First Gulf Bank, NBAD announced that Chief Executive Officer Alex Thursby has stepped down. He was replaced by Abhijit Choudhury as Acting CEO. Choudhury joined NBAD as Chief Risk Officer in December 2006. He was appointed as Acting Group Chief Executive Officer in August 2016. Choudhury’s banking career spans nearly 40 years, starting with ANZ Grindlays Bank in India. He continued to develop a comprehensive knowledge of Mideast markets after 17 years at the Arab Banking Corporation in Bahrain.
Mr. James Burdett is the Group Chief Financial Officer and was appointed to his role in May 2014. Mr. Burdett joined NBAD from Australia and New Zealand Banking Group (ANZ) where he served as Chief Financial Officer International and Institutional Banking. Prior to this position, he was Chief Financial Officer Asia Pacific, Europe and America at ANZ.
Board of Directors
NBAD Board of Directors in 2016: