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26-Jan-2017

NBAD to discuss new debt programmes

National Bank of Abu Dhabi (NBAD) said on Wednesday its board of directors would meet on 31 January to discuss the approval of new debt programmes. The bank's statement did not give any details of the debt plans, or how they would fit into NBAD's planned merger with First Gulf Bank (FGB) early this year. The board will also discuss amending some of its existing debt programmes and review the bank's 4Q16 and FY16 financial results, according to the bourse statement. (Reuters)   NBAD (AD)   : AED10.45 as of 25 Jan, Rating: Buy, TP: AED10.80/share, MCap: USD14,834mn, NBAD UH / NBAD.AD FGB (AD): AED13.30 as of 25 Jan, Rating: Buy, TP: AED14.00/share, MCap: USD16,308mn, FGB UH / FGB.AD  

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