National Bank of Abu Dhabi (NBAD) has reported an 18 per cent increase in net profits for 2014, compared with the previous year.
Net profits reached AED5.6bn ($1.5bn) last year, with the growth driven by fee income, loan growth and increases in deposits, according to the bank.
NBADs assets reached AED376.1bn, rising by 16 per cent for the full year on 2013.
The loan book rose by 6 per cent, compared with the previous year, to reach AED194.3bn. Customer deposits grew at a faster rate than lending, rising by 15 per cent to reach AED243.2bn.
The banks non-performing loan (NPL) ratio is beginning to decline, falling to 3 per cent of total loans in 2014, from 3.2 per cent in 2013. The NPL ratio peaked at 3.6 per cent in the first quarter of 2013.
During the course of 2014, NBAD capitalised on the rebounding market for initial public offerings (IPOs) in the UAE.
It was the joint bookrunner for Emaar Malls Groups offering and joint lead manager for Amanat Holdings IPO.
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