NBF’s operating income up 8.5% in 9M-24 financial results - Mubasher Info

NBF
NBF -2.65% 5.15 -0.14

Abu Dhabi – Mubasher: The National Bank of Fujairah (NBF) achieved net profits amounting to AED 650.42 million in the first nine months (9M) of 2024, compared to AED 513.16 million in 9M-23.

The lender registered operating income valued at AED 1.82 billion as of 30 September 2024, up 8.40% year-on-year (YoY) from AED 1.68 billion, according to the financial results.

Earnings per share (EPS) went up to AED 0.27 in 9M-24 from AED 0.21 in the year-ago period.

Customer deposits and Islamic customer deposits increased by 8.50% to AED 41.8 billion in 9M-24 from AED 38.6 billion as of 31 December 2023. Total assets rose by 13.20% to AED 58.50 billion from AED 51.70 billion.

Income Results for Q3-24

During the third quarter (Q3) of 2024, NBF registered a decline in net profit to AED 209.27 million, compared to AED 181.02 million.

The operating income climbed to AED 623.57 million in Q3-24 from AED 572.69 million in Q3-23, while the EPS dropped to AED 0.09 from AED 0.08.

Raja Easa Al Gurg, Deputy Chairperson of NBF, said: “With the benefit of the buoyant local market momentum spurred by solid domestic activity in the tourism, trade, construction and financial services sectors, the robust capital position and improving overall asset quality, we will continue building on our steadfast dedication to service excellence, driving digital adoption and enhancing shareholder value, placing us well for sustained progress and agility throughout the rest of 2024 and beyond.”

In the first half (H1) of 2024, NBF registered AED 441.15 million in net profit after tax, an annual rise from AED 332.14 million.

Source: Mubasher Source: {{details.article.source}}