Majority ownership by and privileged relationship with the government of the Emirate of Abu Dhabi. Leading domestic commercial position, translating into above-average financial performance and operational efficiency. Very strong capitalization and high quality of capital. Resilient asset quality and prudent risk management. Large concentration risks on both sides of the balance sheet, like other banks in Gulf Cooperation Council countries. Challenging, though improving, operating conditions in the United Arab Emirates. The stable outlook on National Bank of Abu Dhabi (NBAD) reflects Standard&Poor's Ratings Services' view that NBAD's leading domestic position in the United Arab Emirates (UAE) is well secured, owing to its strong relationship with the Abu Dhabi government. This solid position should enable the bank to generate
