National Bank of Abu Dhabi
“Market Cap $17.95 B As of May 2014
At a Glance
- Industry: Regional Banks
- Founded: 1968
- Country: United Arab Emirates
- CEO: Alexander Thursby
- Website: www.nbad.com
- Employees: 3,666
- Sales: $3.21 B
- Headquarters: Abu Dhabi
#639 Global 2000
- #537 in Profit
- #282 in Assets
- #618 in Market value
National Bank of Abu Dhabi provides corporate, retail, private, and investment banking services. The company operates its business through seven segments: Domestic Banking, International Banking, Financial Markets, Corporate & Investment Banking, Global Wealth, Islamic Business and Head Office. The Domestic Banking segment engages in the consumer banking, commercial banking and elite banking, The International Banking business segment manages the overseas banking network and credit derivative book and comprises of Arab world banking and international banking. The Financial Markets segment operates through international capital markets department, international money markets department, foreign exchange team, institutional and corporate coverage department, and Mena equity. The Corporate & Investment Banking segment provides corporate and investment clients with strategic advice and bespoke innovative solutions. The Global Wealth segment is composed of private banking, asset management group which includes local and global funds as well as discretionary portfolio management, as well as Abu Dhabi Financial Services. The Islamic segment includes Abu Dhabi National Islamic Finance and Islamic division. The Head Office segment includes the operations and administrative support to all of the company’s business units. The company was founded on February 13, 1968 and is headquartered in Abu Dhabi, United Arab Emirates.“
“National Bank of Abu Dhabi History
The National Bank of Abu Dhabi (NBAD) was founded in 1968 by a decree of the Late Sheikh Zayed Bin Sultan Al Nahyan, then the Ruler of Abu Dhabi.
NBAD is ranked by the prestigious Global Finance in its World’s top 50 Safest Banks since 2009, and the Safest Bank in the Emerging Markets and the Safest Bank in the Middle East.
NBAD’s long term ratings are now amongst the strongest combined ratings of any global financial institution. The Bank is rated senior long term/short term AA-/A-1+by Standard & Poor’s (S&P), Aa3/P1 by Moody’s, AA-/F1+ by Fitch, A+ by Rating and Investment Information Inc (R&I) Japan, and AAA by RAM (Malaysia).
After the United Arab Emirates was founded in 1971, NBAD played a key advisory role to the Currency Board that eventually establish dirham and the Central Bank of the UAE in 1973.
In 1975, NBAD opened its first overseas branch in Egypt, and followed it with expansion into Sudan and Oman the following year. Before the decade closed, NBAD opened branches in London and Paris; and launched its American operations in Washington, D.C., in 1981. NBAD expanded to the Far East in 2009, Southeast Asia in 2012, and is preparing its first office in South America, due to officially open soon in Brazil. Today, NBAD is in 18 countries across five continents; stretching from China and Hong Kong in the Far East to Malaysia in Southeast Asia; Oman, UAE, Kuwait, and Bahrain in the G.C.C.; Jordan and Lebanon in the Levant; Egypt, Sudan, and Libya in Africa; France, Switzerland, Channel Islands, and UK in Europe; the USA in North America, and Brazil in South America.
Founded as Abu Dhabi’s first local bank a few decades ago, today’s NBAD growth plans strategise across the West-East Corridor, an expansive area stretching from West Africa to the Far East. NBAD strategy is to build five international bank franchises in the largest and fastest growing economies in the West-East Corridor. Moreover, NBAD will operate eight banking hubs across this region to further grow its wholesale banking business.
Closer to home, NBAD’s vision is to build the largest, safest and best performing bank first in the UAE, and over time in GCC.
NBAD became a public joint stock company in 2000, bringing to the market nearly 30% of its shares when Abu Dhabi Stock Market (ADSM) was founded. (ADSM was renamed Abu Dhabi Securities Exchange (ADX) in 2008.) “
*Information from Forbes.com and Nbad.com
**Video published on YouTube by “Adobe Experience Cloud“