By: Rami Samih
Abu Dhabi - Mubasher: National Bank of Abu Dhabi (NBAD) is likely to see a slowdown in its commercial financing segment in 2016 and a growth in retail segment, according to the chief executive.
CEO Alex Thursby added, “We expect a growth in bank’s core revenues in 2016".
However, he declined to give specific figures for expected growth in the bank’s core revenues.
In 2015, the bank's profit fell by 6.2% to AED5.23 billion ($1.43 billion), compared to AED5.56 billion ($1.52 billion) in 2014.
Thursby confirmed also that liquidity levels improved.
The CEO confirmed that the bank will not invest in Iran currently due to problems of transfers and banking infrastructure. He said that the bank aims to expand in its current markets, especially Egypt.
Thursby revealed that there is a shortage of U.S. dollar in the UAE markets.
