The developer said its profit for the three months to March 31 was 265.1 million riyals ($72.8 million), up from 158.5 million riyals in the same period of 2013.
The Russian Direct Investment Fund (RDIF) said it had signed a deal with Bahraini sovereign wealth fund to identify and work together on investment opportunities in their countries.
NBAD, 70 per cent owned by the Abu Dhabi government, has been realigning its business under new chief executive Alex Thursby, who took charge last summer.
The company’s net profit fell to 3.70 million rials ($9.61 million) in the first quarter of the year compared to 6.94 million rials in the same period of 2013.
The UAE concession system allows oil producers to acquire equity in hydrocarbon resources from the country, with ADNOC usually holding a 60 per cent stake in each joint venture.
Sheikh Saud bin Saqr al-Qasimi, a member of the ruling family of Ras Al Khaimah, has agreed to sell 250 million shares in the company, a bourse statement said.
The German airline had said last month it was in talks over certain options that prompted speculation that Etihad could gain more control over the carrier.