NBAD foreign stockholders grew by 11.23 percent with a total of 1.3 billion shares worth AED 13 billion according to Sunday's closing data.
Non-Arab foreigners accounted for 9.21 percent amounting to one billion shares out of the bank's total capital of AED 10.89, with the rest of the shares distributed among Arab and Gulf shareholders.
Market brokers expect foreigner ownership of NBAD share to increase over the coming period by virtue of foreign institutions that are running significant investment funds and find in the newly created share a lucrative investment environment after the merger process.
NBAD share's annual returns will be the best over the current year amidst expectations for high growth prospects following the reduction in operating costs as a result of the integration process, according to market analysts.
Source by Zawya