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Fujairah / Gulf Time
The National Bank of Fujairah (NBF) announces its results for the six month period ended June 30.
The bank recorded year-on-year growth of 97.5% to close the six month period at a net profit of AED150.5 million compared to AED76.2 million in corresponding period of 2021, up 49.4% quarter-on-quarter and 163.6% for three month period ended June 30 over the corresponding period of 2021. This exhibits bank’s renewed focus on core business growth and improving resilience in spite of prevailing geopolitical headwinds.
Aided by higher net interest income and income from Islamic financing and investment activities, fee and exchange income, NBF posts AED 609.1 million operating profit for six month period.
, a significant increase of 21.3% compared to AED 502.0 million in the corresponding period of 2021 and up 7.7% quarter-on-quarter and 24.4% for the three month period ended 30 June 2022 over the corresponding period of 2021.