NBAD profits decline 6.22% in FY15

Abu Dhabi-Mubasher: National Bank of Abu Dhabi (NBAD) posted profits of AED 5.23 billion ($1.43 billion) in the fiscal year 2015, down 6.22% from AED 5.56 billion ($1.52 billion) in the fiscal year 2014, according to a bourse filing on Wednesday.

In the fourth quarter of 2015, profits declined 22% to AED 1.036 from AED 1.33 billion in Q4-14.

Net interest income advanced 4.1% to AED 7.31 billion year-on-year in FY15.

Net impairment charges increased 8.6% to AED 943 million in FY15 from AED 868 million in FY14.

Net Loans and advances grew 6% to AED 206 billion during the period, compared to AED 194.3 billion in FY14.

Customer accounts and other deposits reached AED 234 billion in FY15, a decrease of 4% from AED 243.2 billion in FY14.