A meeting of the Board of Directors was held last night to discuss the issue and how the management would take measures towards this. Sources confirmed that Terence Allen, Chief of investment banking division, is one among the top officials who resigned.

While infromed sources said, more officials have submitted their resignations, the bank's officials insisted that these resignations are of no significance and will have no impact on the operations of the bank. Another source confirmed that these vacancies will be immediately filled to ensure the normalcy of the operation of the bank. For the year 2003 the bank reported a 23 per cent rise in profits at Dh805 million.

National Bank of Abu Dhabi was founded by the government in 1968, to become the Number One Bank in the UAE, in terms of total assets, deposits and branch network.

With the largest branches and ATMs network in the country, we have been serving the people of the UAE, offering them premier financial services and wide ranging banking facilities.

NBAD also operates 16 overseas branches in Egypt, Oman, Sudan, UK, France and Bahrain (OBU).