(MENAFN - Emirates News Agency (WAM)) The National Bank of Abu Dhabi (NBAD) has been ranked second place in "Top 10 Abu Dhabi Securities Exchange Companies" for its strong performance in net profit and market value.
The "Top 10 Abu Dhabi Securities Exchange Companies" list ranks companies based on their economic performance during 2011 in net profit and market value.
NBAD finished second place in net profit with AED 3,707,547,000 and market value of AED 31,426,973,817 making it at the forefront of financial institutions.
"2011 was the year of economic instability, yet with prudent and smart strategy in growth and investment we were able to overcome the tough conditions that stroked the market and sustained NABD's position as the most profitable bank in the UAE," said Abdulla M. S. Abdul Raheem, the Deputy Group Chief Executive of NBAD.
The "Top 10 Abu Dhabi Securities Exchange Companies" list endeavors to recognize a company's achievement and promote transparency among companies. It aims to endorse Abu Dhabi's economic growth as well as promote it as world's investment destination.
"The Abu Dhabi economic vision is at the core of NBAD's business in which we depend on to draw our path to success and be the World's Best Arab Bank," explained Abdul Raheem "It is our honor to be ranked among top 10 Abu Dhabi's companies representing the capital's economy which confirms our commitment to excellence in everything we do." Organized by Alliance Capital Group and Abu Dhabi Media Company, the awards ceremony of top Abu Dhabi companies was held on 26th January in Abu Dhabi University.
Mohammed Ali Yasin, the Managing Director of Abu Dhabi Financial Services, the fully-owned brokerage subsidiary of NBAD, received the award on behalf of NBAD.