Government-owned National Bank of Abu Dhabi (NBAD), the nation’s second-largest bank by assets and largest by market value, was ranked among the 50 safest banks in the world in 2009, per Global Finance. The annual ratings compare the long-term credit ratings and total assets of the 500 largest banks around the world.  This on the heels of a second-quarter profit fall of 9.3% from a year ago (though net profits were up 17.7% from the first quarter).

Earlier this month NBAD formally announced its intentions to not only double its operations in Egypt, but also to expand into the “fast-growing” Indian market.  Earlier this year, the government-owned bank set up a representative office in Libya, with the aim of strengthening its presence in that country and North Africa.  And sources also suggested last month that the bank, which already has three outlets in Sudan, plans to be one of the principal financial institutions in that market.