Abu Dhabi – Mubasher: The National Bank of Fujairah (NBF) logged net profits valued at AED 513.16 million in the first nine months (9M) of 2023, an annual leap of 122.50% from AED 230.68 million.
The operating income jumped by 27.70% year-on-year (YoY) to AED 1.68 billion in 9M-23 from AED 1.31 billion, according to the consolidated interim financial statements.
Basic and diluted earnings per share (EPS) hit AED 0.22 in January-September 2023, compared to AED 0.09 a year earlier.
As of 30 September 2023, the total assets grew by 12.60% YoY to AED 49.97 billion from AED 44.37 billion, while the customer deposits rose by 13.80% YoY to AED 37.21 billion from AED 32.69 billion.
Financial Statements for Q3-23
In the third quarter (Q3) of 2023, the net profits of NBF reached AED 181.02 million, marking a 125.80% hike from AED 80.16 million during the same period in 2022.
The operating income widened to AED 572.69 million in Q3-23 from AED 461.40 million in Q3-22, while the basic and diluted EPS went up to AED 0.09 from AED 0.04.
Raja Easa Al Gurg, Deputy Chairperson of NBF, said: “Good growth across our operating and net performance augurs well for the results of the full year and beyond, despite the numerous challenges in the global economy and the prevailing macroeconomic uncertainty.”
“Spurred by strong liquidity conditions underpinned by high oil prices, foreign capital inflows, and strong growth in oil and non-oil sectors, the UAE’s economic growth forecast has been revised for 2023 and 2024 to expand at 3.40% and 3.70% respectively,” Al Gurg indicated.
In the first half (H1) of 2023, the ADX-listed bank registered AED 332.14 million in net profit, higher by 120.70% than AED 150.51 million in H1-22.
