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21 February 2024

NBAD sees 8-10% loan growth

By Reuters

National Bank of Abu Dhabi (NBAD), the largest lender by market value in the United Arab Emirates, expects growth in its loans of 8 to 10 per cent in 2014, chief executive Alex Thursby said on Tuesday.

"Loan growth will be good this year but there are also other drivers of growth - current account, trade, forex," Thursby told reporters on the sidelines of the bank's annual general meeting.
Last year, NBAD's net loans and advances rose 11.7 per cent to Dh183.8 billion ($50 billion).

Late last month First Gulf Bank, the UAE's second-largest lender, predicted 2014 loan growth in the "low double digits".

National Bank of Abu Dhabi has also mandated four banks to arrange a five-year bond denominated in Australian dollars.

The lender has picked ANZ, Citigroup, HSBC and itself to arrange the Kangaroo bond.