Majority ownership by and privileged relationship with the government of the Emirate of Abu Dhabi. Solid domestic commercial position, translating into above-average operational efficiency. Very strong capital level and high quality of capital. Resilient asset quality and prudent risk management. Large concentration risks on both sides of the balance sheet, like other Gulf Cooperation Council banks. High construction and real estate exposure. Challenging, though improving, operating conditions in the United Arab Emirates. Standard&Poor's Ratings Services' outlook on United Arab Emirates (UAE)-based National Bank of Abu Dhabi (NBAD) is stable. It reflects our expectation that NBAD will maintain its leading commercial position and sound financial profile, with no significant change in its shareholding structure over the next two years.
