As at November 29, National Bank of Abu Dhabi (NBAD) had $345 million exposure to the Dubai World Group, according to a company statement.

The exposure comprises the following:

• $114 million nominal invested in the Nakheel December 2009 Sukuk and marked Available for Sale and marked to market through equity
• $6 million nominal in the same bond held in our Trading Portfolio and marked-to-market
• General corporate loans of $100 million and $125 million to Nakheel and Limitless respectively

NBAD has no exposure to Dubai World itself.

As at September 30, 2009, NBAD had:

- net loans of $34.9 billion (Dh128.2 billion)

- capital and reserves in excess of $6.3 billion (Dh23.1 billion) taking its capital adequacy as per Basel II to 18.42 per cent

- net non performing loans at $419 million (Dh1.5 billion) and total provision of $613 million (Dh2.25 billion) hence making the bank's non performing loans coverage 146 per cent, said the statement.-TradeArabia News Service