Monday , October 15 2018

NBF profit up 15.3%

DUBAI / WAM

National Bank of Fujairah (NBF) announced that it achieved to AED145.4 million in net profits in Q1 2018, with 15.3 percent rise compared to AED126.1 million in the corresponding period of 2017.
Easa Saleh Al Gurg, NBF Deputy Chairman, said, “This reflects solid core business growth and proactive asset and liability management, the bank said in statement. The bank’s positive start to 2018 continues to reaffirm the efficacy of our long term partnership with customers, strategies and our solid financial position. Most importantly, NBF was able to deliver a good set of results that were not just a year-on-year increase, but a vast improvement to that seen at the end of December 2017,” he said. The operating profit was AED248 million for the three-month period compared with AED212 million in 2017; a rise of 17 percent demonstrating the financial institution’s continued focus on quality core business growth and profitability.

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