EGM approves convertible bond and increase size of 3 existing programmes

Abu Dhabi (March 12th, 2013)

The National Bank of Abu Dhabi's (NBAD) annual general meeting (AGM), held today in Abu Dhabi, approved the distribution of cash dividend of 35% and stock dividend of 10% for the financial year ended 31 December 2012.

The meeting, convened under the chairmanship of His Excellency Nasser Ahmed Khalifa Alsowaidi, the Chairman of the NBAD Board, reviewed and approved the directors' report, auditor's report and the financial statements for the year ending 31 December 2012.

Addressing the Bank's shareholders, Alsowaidi said,:"NBAD performed well in 2012 despite challenging economic conditions.  This strong performance in uncertain times reflects the strength of the Bank's global diversified business model as well as the quality of the Bank's staff, our single most valuable asset".

"NBAD's net profits grew 17% to AED 4.3 billion for the full year 2012. The Bank continued to grow its balance sheet and build upon its strong capital and liquidity positions.  In 2012, NBAD was once again named as one of the "World's 50 Safest Banks" and the safest bank in the Middle East  by Global Finance, " he added.

"The Bank is well positioned to continue our growth  in 2013.  We will continue to expand our local presence while also moving forward with plans to open more offices internationally.  We anticipate opening branches in Lebanon, South Sudan, and Brazil in 2013 as we continue to execute against our international expansion strategy," Alsowaidi said.

The Extraordinary General Meeting (EGM), convened after the AGM, approved the issuance of a convertible bond of up to a principal amount of USD 500 Million and increase the size of three existing programs.

The EGM has approved increasing the size of the Bank's existing EMTN Programme from USD 5 Billion to USD 7.5 Billion; Malaysian Ringgit Programme from MYR 3 Billion to MYR 5 Billion; and Japanese Samurai Programme  from Yen 40 Billion to Yen 150 Billion.

Commenting on the issuance of convertible bond and increase of size of 3 existing programmes, Michael Tomalin, Group Chief Executive of NBAD said, "These are limit increases which will only be used if the market conditions are right for us. They reflect the growing size of the Bank"

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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 since 2009, NBAD currently operates across 15 countries on four continents. NBAD has a network of 122 branches and more than 570 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- China, Malaysia, and Jordan in Asia to Washington, D.C. in the U.S.A.
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 media 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 2013