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Tuesday, September 29, 2009

National Bank of Abu Dhabi and DVB to launch aviation investment fund

National Bank of Abu Dhabi and DVB to launch aviation investment fund

» Company News/N/National Bank of Abu Dhabi (NBAD)

National Bank of Abu Dhabi (NBAD) and DVB Bank SE (DVB) have signed an agreement to launch a new aviation investment fund, which will invest in aviation assets, principally aircraft and engines on lease to international airlines.

United Arab Emirates: Sunday, September 27 - 2009
NBAD and DVB will act as 50%-50% joint venture partners in establishing and managing the fund. As sponsors, NBAD and DVB will also proportionately invest in the fund alongside the investor base primarily from the UAE and other GCC countries.

It is expected that the fund will acquire approximately $1bn in assets over the next two years. The fund represents the first major cooperation between NBAD and DVB, and both organisations bring complimentary skills and expertise to the fund.

Ranked as one of the top 50 safest banks in the world, NBAD currently operates across 13 countries on four continents. It has a broad range of products and services to proactively suit the demands of its growing client base.

DVB Bank SE is the leading global specialist in international transport finance. It offers integrated financing solutions and advisory services in respect of Aviation, Shipping and Land Transport.

DVB is a market leader in the aviation finance sector and has received several awards for innovative financings, including Middle East Debt Deal of the Year (2008) by Jane's Transport Finance.

"We are very keen on working in partnership with the best in class, and in this regard we are delighted to have DVB, a prestigious name in the aviation financing industry, as a partner and co-investor in this important new fund,"

said Mr. Mark Yassin, Senior General Manager of NBAD's Corporate & Investment Banking Division.

"We are committed to supporting the aviation industry as well as to bring high quality investment opportunities to our clients. We look forward to providing much needed capital to the industry," Mr. Yassin explained.

"NBAD's outstanding loans for transport sector increased to Dhs6.36bn by the end of 2008 compared to Dhs5.16bn in 2007. This demonstrates NBAD commitment to keep pace with the development of the UAE as it plays a major role in building the country," Mr. Yassin concluded.

"At DVB, we are delighted to be working with the number one banking institution in the Middle East on this exciting new venture," said Mr. Bertrand Grabowski, Member of the Board of Managing Directors of DVB.

"DVB and NBAD recognise the opportunity to provide both much needed capital to the industry and bring new investment opportunities in aviation to the market. We believe this is an opportune time to be investing in aviation assets," he added.
Notes and media contacts

About NBAD:
The National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE, was incorporated in 1968. NBAD has a network of 90 branches in the UAE in addition to Cash offices that are spread out at remote locations to provide banking services to customers stationed at offshore oil operations and in desert locations as well as other government organizations.

NBAD also has three Shift offices inside the security areas of the Abu Dhabi International Airport providing currency & traveler's cheques exchange services. The branch network is widened further with over 300 ATMs through which customers perform a variety of transactions.

Besides brick & mortar branches, NBAD provides 24 hour internet banking accessibility through NbadOnline and NbadDirect, as well as account access and personalized customer support through the 24-hour Call Centre.

NBAD's overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C., Egypt, Libya, and Sudan in Africa, London, Paris, and Geneva in Europe to Washington D.C. in the U.S.A.
The bank provides its customer with a wide variety of financial services targeted at all segments of the retail and corporate market in addition to Fund Management, Brokerage, Leasing, Property Management businesses and Private Banking.

NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving one of the strongest combined rating of any Middle Eastern financial institution. Recently, NBAD was ranked among the World's 50 safest banks in 2009 by Global Finance.

NBAD is an award winning leader in the UAE and GCC financial services industry. NBAD was recently awarded the prestigious the 'Best Bank in UAE 2009' from Euromoney, 'UAE Corporate Governance Award' by Hawkamah, Institute of Corporate Governance, the Human Resources Development Award in Banking Sector from Emirates Institute of Banking & Finance Sector, the Mohammed Bin Rashid Al Maktoum Business Award, 'Best Bank in UAE' from emeafinance, and Best Personal Loan in product category by The Banker Middle East publications. In previous years, NBAD has also won other prestigious awards such as the Sheikh Khalifa Gold Award, the Dubai Quality Award, the Middle East Excellence Award 2008, ACN Arab Technology Award for the Banking & Finance, CIO Award of The Year, the 'Best Bank in UAE' from Euromoney and Banker publications, 'Human Resources Development Award' from the Emirates Institute for Banking & Financial Studies, the 'Middle East e-Banking Country Award', the 'Outstanding use of IT in Financial Services Award, and excellence award for 'Best use of Technology' from Banker Middle East.

The bank has been recognized as a 'Super Brand' by Superbrands, the independent authority and arbiter on branding.

About DVB Bank SE:
DVB Bank SE, incorporated in Frankfurt/Main, is an international bank that specializes in the global transport market. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, and Land Transport. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, Cardiff, Rotterdam, Bergen/Oslo, Piraeus, Zurich, Singapore, Tokyo, Hong Kong, New York and Curaçao. DVB Bank SE is listed on the Frankfurt Stock Exchange (ISIN: DE0008045501).

For further enquiries, please contact:
Ehab Khairi Hassan
Media & PR Manager
National Bank of Abu Dhabi
Tel: +97126111190


Prof. Dr. Borislav Bjelicic
Senior Vice President, Corporate Communications
Platz der Republik 6
60325 Frankfurt / Main
Phone: +49 (0) 69 9750 4390

© 1996-2009 by AME Info FZ LLC / Emap Limited. All rights reserved.

This story was posted by Rana Mesbah
Sunday, September 27 - 2009 at 17:00 UAE local time (GMT+4)

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National Bank of Abu Dhabi and DVB to launch aviation investment fund

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