On Jan. 31, 2005, Standard&Poor's Ratings Services assigned its 'A/A-1' long- and short-term counterparty credit and certificate of deposit ratings to National Bank of Abu Dhabi (NBAD). The outlook is stable. This is the first full interactive rating assigned to a bank in the United Arab Emirates (UAE). The ratings on NBAD reflect the bank's ownership and privileged relationship with the government of the oil-rich Emirate of Abu Dhabi (not rated), its strong domestic commercial position, and robust financial profile. The rating is constrained by the bank's narrow domestic market, the volatility of public sector deposits, and NBAD's only adequate capital position. NBAD is the largest bank in the UAE with total assets of United Arab Emirates dirham
