Investor Presentation 2 nd Quarter / 1 st Half - 2011
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
Contents UAE economic overview ......................................................................................................... Page 4 Abu Dhabi – The Capital ......................................................................................................... Page 5 Page 6 The UAE banking sector ......................................................................................................... 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 1 st Half 2011 results ……………………………….................................... Page 13 - 15 Assets & liquidity, Investments …………………………….……………………………................. Page 16 - 17 Loans and advances & Asset quality ………………………………………………..……………... Financials Page 18 - 19 Funding profile & Capital resources ………………………………………………….…………..... Page 20 - 21 Income statement and key parameters………………….………………………………………….. Page 22 Conclusion Outlook – 2011……..…………………………………………………................................................ Page 23 Consolidated balance sheet …………………………………………………………………………. Page 25 Consolidated income statement ……………………………………………………………………. Page 26 Appendix Credit rating profile ……………………………………………………………………………………. Page 27 Clear Strategy ……………...…………………………………………………………………………... Page 28 - 30 Contact us ……………………………………………………………................................................ Page 31 3
UAE economic overview UAE Overview UAE Overview A Federation of seven Emirates (Abu Dhabi being the capital) 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) * 7.4% of proven global oil reserves which generates ⅓ of UAE‟s GDP (2009) UAE Banking sector offers the largest asset base within the GCC (NBAD is 4 th largest bank by assets in the MENA region) UAE banking sector is dominated by domestic players domiciled within the market + S&P and Fitch do not rate UAE; the ratings above reflect their ratings on the Emirate of Abu Dhabi * Nominal GDP rankings by IMF (2010) Source: Bloomberg, IMF, UAE Central Bank, US Energy Information Administration Key Economic Indicators UAE GDP (Real) Split by Sector 2010 Estimates New Manufacturing Construction UAE Singapore Malaysia Other primary (in US$ bn) 10% Zealand 12% Real Estate activities 1% 10% Nominal GDP 297.9 140.4 222.7 238.0 Transport Real GDP growth 1.4 1.5 14.5 7.2 Storage & Crude oil & (% change yoy) Communicatn, Natural Gas 9% Exports of goods & 31% 212 41 347.9 182 services Financials 7% Trade Imports of goods & 162 39 306.2 141 13% services Other Services (net) Govt Services Population (mn) 5.1 4.4 5.2 28.3 3% 4% Source: IMF, World Economic Outlook Database, IIF, UAE Central Bank, Ministry of Economy, Source: National Bureau of Statistics, Economic Report 2010 (at 2007 constant prices) National Bureau of Statistics (UAE), NBAD Research (Exchange Rate: 1 USD = 3.673 AED) 4
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 Population 1.57mn (mid-2008) US$ 168.9bn (+15.9% in 2010) Nominal GDP US$ 85,843 (2010) (3 rd highest in the world – IMF) GDP Per Capita Oil & Gas 49.7% (2010 nominal GDP) as a % of GDP Crude Oil -- Production Approx 2.3mn bpd (2010) 92 bn barrels; (Global ranking - 6 th ) -- Reserves Real Estate & Construction (22%), Trade, Services & Logistics (13%), FIs & Insurance (6%), Manufacturing Principal Contributors – (6%), Govt Services (4%) contribute ~ 50% to to Nominal GDP Abu Dhabi‟s GDP Abu Dhabi “2030 Initiative by the Government of Abu Dhabi to develop Economic Vision” and diversify the economy beyond oil revenues Future major developments in line with Abu Dhabi Economic Vision 2030 covering all sectors for the next Future Developments 3 years have an estimated value of US$ 200bn (Abu Dhabi‟s Urban Planning Council) Top – An artists impression of Sowwah Island (Central Business & Financial District) Source: Department of Planning and Economy, IMF, UAE Central Bank, NBAD Research, ADCCI, DCCI, DPE, Statistics Centre – Abu Dhabi (All figures as of 2009, unless stated) Below – KIZAD (Khalifa Industrial Zone Abu Dhabi) masterplan 5
The UAE banking sector Latest Growth Banking Sector UAE banking sector June Country 2009 2010 (2011) (YoY) Assets (USD bn) (in USD bn) 2011 est Total Assets 1 413.6 437.1 464.7 Jun 10.9% 464.7 UAE Certificates of Deposit 19.6 25.6 32.1 held by Banks S. Arabia Jun 9.0% 401.8 Investments by Banks 32.4 33.8 39.0 May (5.7)% 197.5 Bahrain Deposits 2 267.5 285.8 306.6 Bank Credit 3 277.1 280.8 287.6 Kuwait Jun 3.0% 149.6 Specific Provisions 8.9 12.1 12.9 Jun 22.9% 170.8 General Provisions 2.9 3.4 3.9 Qatar Capital Adequacy Ratio 19.2% 20.8% 21.0% Oman Apr 6.8% 41.0 Banks & Branches 4 National Banks (23) 795 867 881 GCC Estimate 8.0% 1,425.4 Foreign Banks (28) 154 162 159 Source: UAE Central Bank Source: Central Banks of respective countries 1 Net of provisions and interest in suspense 2 Excluding Inter-bank deposits 3 Excluding loans to banks, provisions & interest in suspense 4 Includes head offices, branches, pay offices, EBUs 6
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 „Safest Bank in the Middle East‟ * - highest rated bank in the Middle East Clear and focused strategy for growth Largest international presence among the UAE banks * By Global Finance – Safest Bank in Middle East in 2011; Among the World‟s 50 Safest Banks 3 years in a row (2009 -11) 7
NBAD at a glance (cont‟d) Incorporated in 1968 to serve as Banker to the Emirate of Overview Ras al-Khaimah (2) Abu Dhabi Umm al-Quwain (1) Owned ( 70.48% ) by Government of Abu Dhabi , via the Fujairah (4) Ajman (1) Abu Dhabi Investment Council (ADIC) Sharjah (10) Listed on Abu Dhabi Securities Exchange (ADX) Dubai (13) RAM R&I Credit Moody‟s Fitch S&P (Malaysia) (Japan) Rating Abu Dhabi & Eastern LT AA- Aa3 A+ AAA Region (82) A+ F1+ P-1 A-1 P1 ST Outlook Stable Stable Stable Stable Stable UAE - 113 branches * , 462 ATMs + in all the 7 emirates Presence Egypt – 28 branches * , 44 ATMs Other Overseas – 22 units * , 19 ATMs Egypt (28) London Channel Islands Geneva Jordan (2) Stock Market Cap AED 31.4bn (US$ 8.6bn) Paris Kuwait Washington, D.C. Bahrain (Price @ AED 10.95) Info Libya UAE Oman (8) Diluted EPS (1H 2011) 0.62 Hong Kong (Price as of Sudan (3) 30 Jun 2011; PE Ratio 8.6 ratios based on 1H‟11 Price / Book 1.5 financials) Shares Issued (@ AED 1) 2,870 mn Free float: 29.5% (Non-UAE – 2.1%) Most international bank in UAE • Including cash offices, NBAD Suisse subsidiary, offshore units & representative office in Libya + includes Cash deposit machines 8
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