HE the Chairman presented the bank's results followed by the external auditors report and a discussion of the financial statements for 2004.
Subsequently, an Extraordinary General Meeting was held, which also approved the proposed 10:1 stock split.
In 2004 NBAD was the first Bank in UAE to report net profits in excess of 1.1 billion and total assets above AED 56 billion. The Bank earned a return on equity of 25.67% in 2004; the best amongst the large UAE banks.
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NBAD's Ordinary General Meeting approves 40 per cent cash divident and the Extraordinary General Meeting approves the 10:1 stock split
- United Arab Emirates: Tuesday, March 22 - 2005 at 08:17
- PRESS RELEASE
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NBAD's AGM approved in its meeting held on Sunday 20-Mar-2005, the distribution of 40 per cent cash dividends to shareholders, 35 per cent in 2003.
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Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, March 22 - 2005 at 08:17 UAE local time (GMT+4)
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