NBAD is UAE‟s Number One Bank Investor Presentation September 2010 Best Bank in UAE (Euromoney 2010) I Among the world‟s 50 safest banks in 2010 (Global Finance)
Disclaimer The information contained herein has been prepared by National Bank of Abu Dhabi P.J.S.C (“NBAD”). NBAD relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. This presentation has been prepared for information purposes only and is not and does not form part of any offer for sale or solicitation of any offer to subscribe for or purchase or sell any securities nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Some of the information in this presentation may contain projections or other forward-looking statements regarding future events or the future financial performance of NBAD. These forward-looking statements include all matters that are not historical facts. The inclusion of such forward-looking information shall not be regarded as a representation by NBAD or any other person that the objectives or plans of NBAD will be achieved. NBAD undertakes no obligation to publicly update or publicly revise any forward-looking statement, whether as a result of new information, future events or otherwise. 2 Best Bank in UAE (Euromoney 2010) I Among the world‟s 50 safest banks in 2010 (Global Finance)
Contents UAE economic overview ……………………………………………………………………. Page 4 Abu Dhabi – The capital …………………………………………………………………….. Page 5 The UAE banking sector ……………………………………………………………………. Page 6 NBAD at a glance …………………………………..………………………………………… Page 7 - 8 Introduction A diversified business model ………………………..…………………………………….. Page 9 Core strategy …………………………………………………………………………………… Page 10 Competitive landscape ……………………………………………………………………….. Page 11 Financial targets ………………………………………..……………………..……………… Page 12 Highlights of 2 nd Quarter/1 st Half of 2010 results ………………………………............ Page 13 - 16 Assets & liquidity, Investments …………………………….……………………………... Page 17 - 18 Financial Loans and advances & Asset quality ………………………………………………..…… Page 19 - 20 Highlights Funding profile & Capital resources ………………………………………………….….. Page 21 – 22 Income statement and key parameters………………….……………………………….. Page 23 Outlook – 2010……..………………………………………………….................................. Page 24 Conclusion Appendix……………………………………………………………………………………….. Page 25 3 Best Bank in UAE (Euromoney 2010) I Among the world‟s 50 safest banks in 2010 (Global Finance)
UAE economic overview UAE Overview UAE A Federation of seven Emirates (Abu Dhabi being the capital) Overview Headed by the President (Ruler of Abu Dhabi; Ruler of Dubai is the Vice President) Rating: Moody‟s (Aa2 stable), S&P (AA stable), Fitch (AA stable) Key Facts 2 nd largest economy in GCC and the Arab world (after Saudi Arabia) * 10% of proven global oil reserves which generates ⅓ of UAE‟s GDP UAE Banking sector offers the largest asset base within the GCC (NBAD is 3 rd largest bank by assets in the MENA region) UAE banking sector is dominated by domestic players domiciled within the market • Nominal GDP rankings by IMF (2008) Source: Bloomberg, IMF, UAE Central Bank Key Economic Indicators UAE GDP (Real) Split by Sector 2009 Estimates New Financial UAE Singapore Malaysia Agriculture Govt Utilities (in US$ bn) Zealand services 2% 8% 1% 6% Real Estate Nominal GDP 249.0 117.8 177.1 191.5 Others (net) 8% 1% Real GDP growth Transport & 1.3 -1.6 -2.0 -1.7 Crude Oil & (% change yoy) Communica- NGas tion Exports of goods 29% 7% 167 28 259 171 & services Imports of goods 122 26 234 135 Trade & & services Tourism Industry Construction 11% Population (mn) 5.0 4.3 4.8 27.8 16% 11% Source: IMF, World Economic Outlook Database - Oct 2008, IIF, UAE Central Bank, Source: National Bureau of Statistics, Economic Report 2009 Ministry of Economy, National Bureau of Statistics (UAE), NBAD Research (Exchange Rate: 1 USD = 3.673 AED) 4 Best Bank in UAE (Euromoney 2010) I Among the world‟s 50 safest banks in 2010 (Global Finance)
Abu Dhabi – The Capital Abu Dhabi Key Economic Indicators Aa2 ( Moody”s ) / AA (S&P) / AA (Fitch) Credit Rating Abu Dhabi accounts for 87% of UAE‟s land area Size 1.6mn Population Nominal GDP US$ 142bn US$ 90,000 (3 rd Highest in the World) GDP Per Capita Oil & Gas 64% as a % of GDP Crude Oil Approx 2.5mn bpd Production Principal Manufacturing, Construction, FIs & Insurance, Govt Contributors to Services, Real Estate, Wholesale & Retail Services – contribute 31% to Abu Dhabi‟s GDP Nominal GDP Initiative by the Government of Abu Dhabi to Abu Dhabi “2030 develop and diversify the economy beyond oil Economic Vision” revenues Future major developments in Abu Dhabi covering Future all sectors for the next 5 years have an estimated Developments value of US$ 180 billion Model of the Formula 1 -Yas Marina Circuit in Abu Dhabi Source: Department of Planning and Economy, IMF, UAE Central Bank, NBAD Research, ADCCI, DCCI, DPE (All figures as of 2008) 5 Best Bank in UAE (Euromoney 2010) I Among the world‟s 50 safest banks in 2010 (Global Finance)
The UAE banking sector Latest Growth Banking Sector UAE banking sector June Country 2008 2009 (2010) (YoY) Assets (USD bn) (in USD bn) 2010 est Total Assets/ Liabilities 2 394.2 413.6 418.9 UAE Jun 3.3% 418.9 1 14.1% Foreign Assets 14.0% 13.7% Jun 3.3% 368.5 S. Arabia Foreign Liabilities 19.5% 16.5% 1 16.9% Bahrain Jun (13.4)% 209.5 Deposits 3 248.3 267.5 268.3 Kuwait Jun 3.3% 140.1 Bank Credit 4 251.7 277.1 279.2 Banks & Branches 5 Qatar Jun 19.1% 134.0 National Banks (23) 714 795 824 May 9.8% 39.2 Oman Foreign Banks (28) 146 154 158 1 36,509 Employees in Banks 39,589 37,704 1.7% 1,310.1 GCC Estimate (excl auxiliary staff) Source: UAE Central Bank Source: Central Banks of respective countries 1 as of April 2010 2 Net of provisions and interest in suspense 3 Excluding Inter-bank deposits 4 Excluding loans to banks, provisions & interest in suspense 5 Includes head offices, branches, pay offices, EBUs 6 Best Bank in UAE (Euromoney 2010) I Among the world‟s 50 safest banks in 2010 (Global Finance)
NBAD at a glance Banker to the Abu Dhabi Government 70% owned by the Government of Abu Dhabi through ADIC (Abu Dhabi Investment Council) Flagship bank for Abu Dhabi Consistent profitability and value creation to shareholders Well positioned for growth from global economic recovery Among the highest rated banks in Middle East and among the world‟s 50 safest banks * Clear and focused strategy for growth Largest international presence among the UAE banks * By Global Finance – 2010 & 2009 7 Best Bank in UAE (Euromoney 2010) I Among the world‟s 50 safest banks in 2010 (Global Finance)
NBAD at a glance (cont‟d) Incorporated in 1968 to serve as Banker to the Overview Ras al-Khaimah (2) Emirate of Abu Dhabi Umm al-Quwain (1) Owned ( 70.48% ) by Government of Abu Dhabi , via Fujairah (4) Ajman (1) the Abu Dhabi Investment Council (ADIC) Sharjah (10) Listed on Abu Dhabi Securities Exchange (ADX) Dubai (12) Moody‟s Credit Fitch S&P Rating AA- Aa3 A+ LT Abu Dhabi & Eastern Region (77) ST F1+ P-1 A-1 Outlook Stable Stable Stable UAE - 107 branches * , 365 ATMs + in all the 7 emirates Presence Egypt – 28 branches * , 41 ATMs Other Overseas – 21 branches * , 16 ATMs Egypt (28) London Channel Islands Geneva Jordan Market Cap AED 27.2bn (US$ 7.4bn) Stock Info Paris (Price @ AED 11.35) Washington, D.C. Kuwait Bahrain (Price as of Libya UAE Diluted EPS (annualised) 1.54 31 Aug 2010; Oman (8) Hong Kong ratios based Sudan (3) PE Ratio (on Diluted EPS) 7.4 on 1H‟10 financials) Price / Book 1.5 Shares Issued (@ AED 1) 2,392 mn Free float: 29.5% (Non-UAE – 2.5%) Most international bank in UAE • Including cash offices, NBAD Suisse subsidiary, offshore units & representative office in Libya + includes Cash deposit machines 8 Best Bank in UAE (Euromoney 2010) I Among the world‟s 50 safest banks in 2010 (Global Finance)
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