National Bank of Abu Dhabi\'s (NBAD) net profit for 2011 rose 0.8 per cent on year to Dh3.71 billion, though its fiscal fourth quarter net fell 1.09 per cent to Dh724 million, the country\'s largest bank said yesterday. \"The bank continues to deliver a strong and sturdy performance in the face of continued political and economic uncertainties, regionally and globally. The group\'s business model and its professional management are its core strengths,\" Nasser Al Suwaidi, chairman of NBAD, said in a statement. NBAD\'s operating income for the year reached Dh7.88 billion, compared with Dh7.18 billion a year earlier. Its fourth quarter operating income at Dh1.99 billion was also higher on the year, rising 9.6 per cent. On growth track Article continues below Net interest income and net income from Islamic financing contracts for 2011 rose 10.6 per cent on year to Dh5.80 billion, while non-interest income was higher by 7.7 per cent at Dh2.08 billion. Operating expenses for the financial year ended December 31 stood at Dh2.56 billion, up 17.3 per cent from 2010. Its net interest margin was 2.48 per cent for 2011, lower than 2.57 per cent for the 2010 due to reduced yields on lending. \"2011 has been one of the most difficult years ever in global banking. The region has also been affected by the Arab Spring, low interest rates and the Euro crisis. Nonetheless, NBAD has produced solid results with operating profits up 6.5 per cent and top-line revenues up 10 per cent,\" said Michael Tomalin, NBAD Group Chief Executive. Collective provisions of Dh2.32 billion now represent 1.5 per cent of the performing credit risk-weighted assets, well ahead of the Central Bank\'s 2014 target,\" said NBAD, adding the non-performing loans increased to Dh4.839 billion representing 2.94 per cent of the loan book. He added: \"We have been particularly cautious regarding provisions, both for our properties which we had purchased for expansion, and our credit portfolio, taking the general provisions to performing credit risk-weighted assets to the 2014 Central Bank target of 1.5 per cent, and adding appropriate specific provisions for non-performing loans. Despite these higher provisions, net earnings have remained steady — a good achievement in a year when many of our global peers have seen sharp falls in their income.\" Operating profit Operating profit grew 6.5 per cent to Dh5.32 billion in 2011, mainly driven by the international businesses and financial markets businesses. NBAD\'s shares on the Abu Dhabi Securities Exchange remained unchanged yesterday at Dh10.75. \"Net impairment charges were Dh1.49 billion for the full year and Dh482 million for the fourth quarter of 2011. Before recoveries, impairment charges were Dh1.71 billion compared with Dh1.36 billion in 2010, said NBAD.