Raises the Bank's stand-alone credit profile by one notch

Abu Dhabi (June 19, 2012) - Standard & Poor's (S&P) has raised its assessment of National Bank of Abu Dhabi's (NBAD) capital and earnings to "very strong", and the Bank's stand-alone credit profile (SACP) to 'a' from 'a-,' and affirmed NBAD's long- and short-term credit ratings of 'A+/A-1' which maintains that NBAD has one of the strongest combined ratings in the Middle East.

S&P also rated NBAD's Outlook "stable" and added: "The stable outlook reflects our expectation that NBAD will remain a dominant player in the UAE, with no significant change in its ownership or business and financial profiles over the next two years."

S&P based its rating on NBAD's "strong" business position, "very strong" capital and earnings, "strong" risk position, "average" funding and "adequate" liquidity.

"Our revision of the capital and earnings score was triggered by a more positive view on the Bank's capitalisation," S&P said. "Our risk-adjusted capital (RAC) ratio before adjustments based on NBAD's 2011 financial statements stood at an estimated 15.9% at year-end 2011, which compares very favorably in a global context. NBAD has lower risk-weighted assets than its peers, given the significant portion of its lending exposure to the Government of Abu Dhabi and related government-related entities. We anticipate that NBAD's pre-provision earnings generation will remain healthy in the coming years and we project that our RAC ratio before adjustments for NBAD will increase to about 16%-17% in the next 18 to 24 months, in line with strong internal capital generation."

"We are pleased that S&P has affirmed our strong ratings," said Michael Tomalin, NBAD's Group Chief Executive. "The affirmation of our strong ratings is a confirmation of NBAD's prudent management over the years."

NBAD is the UAE's most profitable bank and it has the highest market capitalisation. Global Finance has ranked NBAD since 2009 in its list of the World's 50 Safest Banks, and the safest bank in the Middle East.

In 2010, NBAD became the first UAE Bank to earn more than US$1 billion in operating profits.

NBAD trades in the Abu Dhabi Securities Exchange under the ticker symbol NBAD. The Abu Dhabi Investment Council, an investment arm of Abu Dhabi Government, owns 70.5% shares in the NBAD Group.

S&P also stated that NBAD benefits from the strong relationship with Abu Dhabi Government. "We consider NBAD to be of 'high' systematic importance and the Abu Dhabi Government to be 'highly supportive' toward its banking sector," S&P said.

NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moody's and AA-/F1+ by Fitch giving it one of the strongest combined rating of any Middle Eastern financial institution.

-Ends-

About NBAD
The National Bank of Abu Dhabi (NBAD), The Number One Bank in UAE, was incorporated in 1968 and is listed on the Abu Dhabi Securities Exchange (ADX), under stock code (NBAD).

Ranked as one of the top 50 safest banks in the world, NBAD currently operates across 13 countries on four continents.

NBAD has a network of 123 branches and more than 550 ATMs to provide banking services to customers all over the UAE.

Besides brick & mortar branches, NBAD provides 24 hour internet banking access through NbadOnline and NbadDirect, the SMS-based payment service (Arrow) as well as account access and personalised customer support through its 24-hour Call Centre.

NBAD's overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C.; Egypt, Libya, and Sudan in Africa; UK, France, and Switzerland in Europe; Hong Kong, Shanghai and Jordan in Asia to Washington, D.C. in the U.S.A. Overall, NBAD has nearly 50 branches and 60 ATMs outside the UAE. NBAD provides its customers with a wide variety of financial services targeting all segments of the consumer and corporate markets.

NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving it one of the strongest combined rating of any Middle Eastern financial institution.

For further enquiries, please contact:
Ehab Khairi
Media & PR Manager
National Bank of Abu Dhabi
Tel: +97126111190
Email: ehab.khairi@nbad.com
Web: www.nbad.com

© Press Release 2012