The National Bank of Abu Dhabi provides retail and corporate banking services locally and internationally and investment banking services including asset and wealth management, brokerage and corporate finance as well as Islamic banking.

Ranked by assets and earnings, NBAD was the second largest UAE bank in terms of total assets of AED164.7 billion (USD44.8 billion), in 2008, 18% higher than the previous year. NBAD had a market capitalization of AED17.5 billion (USD4.8 billion) and assets under management (off balance sheet assets) recorded AED4.40 billion (USD1.2 billion), both as of December 2008.

Despite the higher provisioning made by the bank during the year, the bank’s net profits grew by 20.5% during 2008 to AED770 million (USD209 million), as reported in the first quarter of 2009—a 12% decrease from the first quarter of 2008, and 57% above 4th quarter of 2008. The return on average equity declined in 2008 to 23.6% from 24.8%, in 2007. Furthermore, return on average assets declined in 2008 to 2.0% from 2.1%, in 2007.

NBAD completed a restructuring process in 2009 and organized its operations into six main business segments; domestic banking, international banking, corporate and investment banking, financial markets, global wealth, Islamic banking and head office support.

Domestic banking earnings rose by 48% to AED2.16 billion (USD588 million), in 2008, up from AED1.456 billion (USD396 million), in 2007 and contributed 56.6% of the NBAD’s 2008 operating income. International banking earnings went up by 44% in 2008 to AED694 million (USD189 million) from AED481 million (USD131 million), in 2007 contributing by 18% to operating income.

The financial markets division annual earnings grew by 161% in 2008, and reached AED754 million (USD205 million), contributing by 20% to operating profit. Global wealth earned AED52 million (USD14 million), in 2008, down by 71.5% from AED183 million (USD49.8 million), in 2007.

Through a division of NBAD and the Abu Dhabi National Islamic Finance Company, the Islamic banking division, in its first full year of activity, earned AED24 million (USD6.5 million), in 2008. The head office support operations earned AED143 million (USD38.9 million), in 2008.

NBAD made its first acquisition in the 3rd quarter of 2008, with the purchase of a 70% stake in Abu Dhabi Securities Brokerage-EgyptAbu Dhabi Securities Brokerage-Egypt (formerly known as Al Salam Brokerage Company), through its fully-owned subsidiary, the Abu Dhabi Financial Services CompanyAbu Dhabi Financial Services Company.