The UAE’s largest lender, National Bank of Abu Dhabi (NBAD), has reported a 17.5% increase in second-quarter net profit, with higher fees and investment gains boosting income, Reuters has reported. The lender, almost 70%-owned by Abu Dhabi’s government, made a net profit of Dhs1.42bn ($387m) in the three months to June 30, up from Dhs1.21bn in the corresponding period of 2013. Non-interest income rose 20.1% year-on-year to Dhs830m in the second quarter, as fees and commissions jumped 26.8%. The bank said it booked loan impairments totalling Dhs215m, lower than the Dhs301m booked in the second quarter last year.
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