NBAD's year-to-date profits up 14%

National Bank of Abu Dhabi (NBAD) has announced a 14 per cent increase in net profits of Dh2.951 billion for the nine months ending September 30, compared with Dh2.591bn for the same period last year, a statement said.

Net profits for the third quarter this year increased marginally to Dh920 million from Dh914m, compared with the third quarter last year.

Quality of the loan book remains good with non-performing loans of Dh2.561bn, representing 1.8 per cent of the bank's portfolio, the statement said.