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NBAD stock down dragged by 9M profit drop

NBAD stock down dragged by 9M profit drop
Photo Credit: Arabianeye-Reuters
FAB
FAB
-3.13% 17.36 -0.56

Abu Dhabi-Mubasher: National Bank of Abu Dhabi (NBAD) stock declined 1.67% or 0.15 points to AED 8.85 following the bank’s financial results for the first nine months of 2015.

NBAD posted profits of AED 4.195 billion ($1.142 billion) in the first nine months of 2015, down 0.23% from AED 4.21 billion in the same period of 2014, according to a bourse filing on Wednesday.

In the third quarter of 2015, profits fell 3% to AED 1.33 billion from AED 1.37 billion in Q3-14.

Turnover on the stock reached AED 1.6 million as 184,800 shares were exchanged through 18 transactions.

The banks sector declined 0.21% as Abu Dhabi Islamic Bank and Abu Dhabi Commercial Bank fell 0.95% and 0.52%, respectively.