National Bank of Fujairah’s net profits exceed $120.16mln in H1-24

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Abu Dhabi – The National Bank of Fujairah (NBF) generated net profits after tax valued at AED 441.15 million in the first half (H1) of 2024, compared to AED 332.14 million in H1-23.

Operating income climbed by 8.20% year-on-year (YoY) to AED 1.20 billion in H1-24 from AED 1.11 billion, according to the consolidated financial results.

Basic and diluted earnings per share (EPS) grew to AED 0.18 in the first six months (6M) of 2024 from AED 0.13 in H1-23.

Customer deposits and Islamic customer deposits increased by 7.80% to AED 41.60 billion in H1-24 from AED 38.60 billion as of 31 December 2023. Total assets hiked to AED 55.63 billion from AED 51.71 billion.

Financials for Q2

In the second quarter (Q2) of 2024, NBF logged net profits valued at AED 190.09 million, marking an annual rise from AED 180.13 million.

Basic and diluted EPS inched up to AED 0.068 in Q2-24 from AED 0.064, while the operating income grew to AED 590.34 million from AED 558.85 million in Q2-23.

As of 31 March 2024, NBF recorded higher net profits at AED 251.05 million, compared to AED 152 million in Q1-23.