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National Bank of Abu Dhabi outperforms rival during first quarter

: Monday, April 28 - 2014 @ 18:57

The Abu Dhabi market index (ADXGI) fell by 1.2 per cent to reach 5,090.41 points on Monday, April 28. Green Crescent Insurance Company recorded the biggest surge, closing 7.96 per cent higher at AED1.22. Aldar Properties, the first developer in the emirate, declined by 2.12 per cent to reach AED4.16. National Bank of Abu Dhabi (NBAD) closed flat at AED14.75. NBAD revealed in a filing to the market that it generated a net income of AED1.406 billion ($383m) in the first quarter, up by 31 per cent year on year. This is much higher than most major local banks in the UAE, as they reported year-on-year increases of between 20 per cent (Emirates NBD) and 27 per cent (FGB).


Gérard Al-Fil

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Monday, April 28- 2014 @ 18:57 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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