English Version - National Bank of Abu Dhabi

NBAD’s first branch in Amman, Jordan. It will form the base for
further expansion into neighbouring markets.
Investment Banking Group
Although regional credit, as an asset class, was challenged
in 2009, the involvement of our Debt Capital Markets in
new issue transaction flows continued to be strong and
we successfully closed eight key financing transactions
for prime Abu Dhabi names.
Opportunities for our Corporate Advisory business
within the Gulf remained subdued with no initial public
offerings (IPO) in the UAE in 2009. Project finance
advisory business showed a healthy trend, especially the
major infrastructure projects undertaken by the public
sector in the UAE and elsewhere in the Gulf.
Wholesale Banking Group
Wholesale Banking Group’s Global Project & Structured
Finance (GPSF) experienced a record performance
closing 14 new deals. GPSF maintained its lead position
in project and structured finance in the regional and
in the local syndication market with their participation
in lead roles of structuring and co-ordinating bank,
bookrunner and mandated lead arranger.
Abu Dhabi National Leasing
Abu Dhabi National Leasing (ADNL) showed excellent
growth closing large ticket size lease transactions despite
the challenging market situation. Major lease business
arose from private jets, helicopters, cargo vessels and
vehicles.
The success story of ADNL in 2009 is also reflected in
numbers. The net investment in leased assets increased
129% to over AED 1 billion. Net profit increased 174%.
Global Wealth
Global Wealth comprises Private Banking, Asset
Management Group and Abu Dhabi Financial Services.
Adverse market conditions severely impacted all of these
businesses and earnings were down at AED 15 million.
During the year NBAD hired highly experienced
executives to manage the asset management and
brokerage businesses and underline the Group’s
commitment to building its global wealth business
Islamic Banking
Islamic Banking comprises Abu Dhabi National Islamic
Finance (ADNIF) and NBAD Islamic Division. Islamic
banking delivered another strong financial performance
with earnings of AED 59 million and contributing 1.3%
of NBAD’s operating profits.
Islamic Banking’s activities enjoyed excellent growth in
customer finances compared with 2008 and attracted
more than AED 4 billion of Shariah compliant deposits
in 2009. It also introduced three new products including
Shariah compliant corporate trade finance services,
an ADNIF branded debit MasterCard and a Shariah
compliant home finance product.
ADNIF’s head office was officially inaugurated on 25
May 2009. A dedicated ADNIF website was launched at
the beginning of 2009.
2010. This is a new market for us and will form the base
for further expansion into neighbouring markets.
Our strategy continues to be one of organic growth and
our international expansion is not confined only to the
MENA region. In December 2009, we opened our full
commercial banking branch in Hong Kong. The Hong
Kong branch will be a gateway for our Middle East clients
to access China and a gateway for our Asian investors
and businesses to access the opportunities in the Middle
East especially in Abu Dhabi itself.
Corporate and Investment Banking
Division
NBAD has been ranked first in the league tables by
Dealogic as mandated lead arranger and bookrunner for
UAE-based syndications and third overall for the Middle
East region.
In addition, NBAD has received top honours, winning
three Euromoney Awards for deals of the year for the
Dolphin Energy, Zayed University and Abu Dhabi ISTP2
transactions.
Despite the weak market conditions in 2009, Global
Trade Finance improved its net profit by 28% on the back
of reciprocity business from NBAD’s overseas branch
network.
The combined business units within Corporate and
Investment Banking Division produced a resilient
performance with earnings of AED 2,133 million or
47.4% of NBAD’s operating profits.
Corporate Banking Group
Corporate Banking Group’s (CBG) excellent results were
attributed to the Group’s focused approach of capitalising
on its relationships within government entities as well
as select strategic business client relationships. This has
had the added benefit of making the NBAD franchise
synonymous with iconic transactions and UAE landmark
projects.
During 2009, CBG reviewed and updated all its key
processes, and was recognised for its efforts by receiving
the ISO 9001-2008 accreditation for quality management
systems.
Abu Dhabi National Property Company
Abu Dhabi National Property Company PJS (ADNP)
has been fully registered and an operating licence was
granted in May 2009.
Notwithstanding that its first year of operation coincided
with the unprecedented downturn in the real estate
market in the UAE, ADNP was able to grow its revenue
base. However, staff costs, new office premises and
general business set-up costs reduced its profits.
ADNP established two key strategic alliances
with international best-in-class institutions: Hines
(commercial property management and development
management services) and Knight Frank (international
brokerage, landlord brokerage, tenant representation
and advisory services), thereby allowing ADNP to
provide comprehensive best-in-class solutions across the
entire real estate value chain.
H.E. Nasser Ahmed Khalifa Alsowaidi, the Chairman of National Bank of Abu Dhabi and Mr. Sultan Bin Rashid Al Dhaheri, Board Director,
inaugurating Abu Dhabi National Islamic Finance (ADNIF), the Islamic finance and banking arm of NBAD.
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