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FINANCIAL NEWS
UAE based NBF logs 23 percent gross profit growth in Q3
22 Oct 2015
(MENAFN) UAE’s National Bank of Fujairah (NBF) on posted USD123.5 million net profit for the Jan-Sept period, marking a 23 percent climb over last year’s net profit of USD100.4 million for the cited period.
Additionally, the financial institute announced operating profit at USD159.5 million as opposed to USD126.7 million in the mentioned period of 2014, thus registering an increase of 25.9 percent.
The latest reports also showed that Loans and advances of USD5.2 billion were up by 18.9 percent from USD4.4 billion at 2014 year-end, and up by 21.7 percent from September 30, 2014.
“This latest set of results is once again a firm endorsement of NBF’s resolute focus on its core business and discipline in maintaining strong credit quality” stated the bank’s deputy chairman.
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