Abu Dhabi – Mubasher: The National Bank of Fujairah (NBF) achieved net profits worth AED 152 million in the first quarter (Q1) of 2023, a 151.80% hike from AED 60.35 million in Q1-22.
In January-March 2023, the operating income reached AED 554.13 million, an annual rise of 34.20% from AED 412.84 million, according to the interim financial results.
Basic and diluted earnings per share (EPS) hit AED 0.07 in the first three months (3M) of 2023, up from AED 0.02 in the year-ago period.
The total assets went down to AED 47.52 billion in Q1-23 from AED 47.62 billion as of 31 December 2022, while the clients’ deposits shrank to AED 34.84 billion from AED 35.73 billion.
Raja Easa Al Gurg, Deputy Chairperson of NBF, highlighted: “NBF is well positioned to gain from this growth and has built the platform for enhanced value creation aided by its robust capital and liquidity position, digitally enabled bank strategy for better servicing client needs, prudent risk and compliance management standards and a sound balance sheet.”
Last year, the ADX-listed lender generated AED 340.40 million in net profit, higher by 195.30% than AED 115.20 million in 2021.
