NBAD was incorporated in Abu Dhabi, United Arab Emirates, on 13 February 1968 with limited liability and is registered as a public joint stock company in accordance with the UAE Commercial Companies Law No. (8) of 1984 (as amended). NBAD’s shares are listed on the Abu Dhabi Securities Exchange. NBAD is one of the primary bankers to the Government of Abu Dhabi and public sector companies in the Emirate of Abu Dhabi. It is the leading bank in the UAE and has retail banking, wholesale banking and wealth management operations. NBAD’s principal beneficial shareholder and controlling party is the Abu Dhabi Investment Council ("ADIC"), which is wholly-owned by the Government of Abu Dhabi, holding approximately 70 percent of outstanding share capital of NBAD.
NBAD maintains a presence in the U.S. through NBAD Americas N.V. (NBAD Americas), a wholly owned subsidiary of NBAD. NBAD Americas was incorporated in 1979 under the laws of the Netherlands Antilles (currently Curacao). NBAD Americas has maintained a United States federal branch in Washington, DC since 1981 under a license granted by the Office of the Comptroller of the Currency (OCC). The branch is the only NBAD banking operation conducted in whole or in part in the United States.
The primary business of NBAD Americas is developing and managing the NBAD Group’s global account relationships with companies based in the U.S., Canada and South America, and providing financial services to UAE institutions which invest in the U.S. NBAD Americas provides credit facilities to clients, including short and medium term loans, standby letters of credit and commercial paper backup facilities; trade finance services, including import/export letters of credit and discounting of receivables and drafts/acceptances and treasury services to corporate and individual clients. NBAD Americas also provides financing in conjunction with U.S. Government programs offered by export credit agencies such as U.S. EX-IM Bank and the Commodity Credit Corporation.
NBAD Americas offers the following products in the U.S. :
- Corporate Finance
- Trade Finance
- Depository Services
(The U.S. branch is not a full service retail bank. It does not have FDIC insurance or solicit deposits from the general public.)