The National Bank of Fujairah PJSC (NBF) announced its strongest-ever nine-month results, posting a net profit of AED 945.4 million, up 45.3% year-on-year, driven by sustained business growth, improved asset quality, and disciplined cost management.
Profit before tax for the period reached AED 1.04 billion, compared to AED 715 million in the same period of 2024. The bank also reported a third-quarter net profit of AED 320 million, up 52.9% year-on-year, marking another milestone in NBF’s consistent trajectory of growth
Strong Revenue and Profitability Growth
NBF’s operating income rose 10.6% year-on-year to AED 2.0 billion, supported by higher revenues across key business segments and effective asset and liability management.
Operating profit reached AED 1.5 billion, up 14.3% from the same period in 2024, while net interest income and income from Islamic financing and investment activities increased 6.3% to AED 1.4 billion.
Net fees, commission, and other income rose 21.3% to AED 434.5 million, and foreign exchange and derivatives income climbed 18.9% to AED 165.5 million, reflecting solid trading performance and continued diversification of income sources.
Operating expenses increased modestly by 2.1%, reflecting NBF’s focus on efficiency and digitalization, while the cost-to-income ratio improved to 28.1% from 30.5% a year earlier
Reduced Impairments and Improved Asset Quality
NBF booked net impairment provisions of AED 413.6 million, a significant 25.6% reduction from AED 555.7 million in 2024. The bank’s asset quality strengthened, with the combined IFRS 9 stage 2 and 3 mix improving to 8.7%, compared to 10.2% at 2024 year-end.
These improvements highlight NBF’s prudent risk management approach, transparent recognition of problem accounts, and a focus on sustainable balance-sheet health
Balance Sheet Expansion and Liquidity Strength
Total assets increased 11.7% year-to-date to AED 68.0 billion, compared to AED 60.9 billion at year-end 2024.
Loans and advances and Islamic financing receivables rose 12.1% to AED 36.3 billion, while customer deposits grew 7.4% to AED 49.1 billion.
NBF’s funding profile remains healthy, with Current and Savings Accounts (CASA) making up 43.7% of total deposits, balancing the impact of fixed-term deposit products
Liquidity and capital ratios remain well above regulatory thresholds, with the lending-to-stable-resources ratio at 69.0% (2024: 67.3%), the eligible liquid-assets ratio (ELAR) at 29.1%, and a Capital Adequacy Ratio (CAR) of 16.8% (CET1 ratio 15.7%)
Strong Returns and Segment Performance
The bank’s Return on Average Equity (RoAE) improved to 17.6% from 11.9% in 2024, while the Return on Average Assets (RoAA) rose to 2.0% from 1.6%.
Segment-wise, performance remained broad-based:
- Corporate & Institutional Banking operating income: AED 710.1 million (+3.8% YoY)
- Business Banking: AED 709.0 million (+12.5% YoY)
- Retail Banking: +8.7% YoY growth
- Treasury, ALM & Others: +21.2% YoY
Focused Strategy and Outlook
NBF continues to pursue a diversified growth strategy anchored in client relationships, operational efficiency, and technological advancement. The bank’s results reflect its ability to navigate global volatility, geopolitical tensions, and oil price fluctuations while maintaining profitability and balance-sheet resilience.
With the UAE economy forecast to expand by 4.5% in 2025, NBF aims to capitalize on opportunities in trade, finance, and digital innovation, supported by strong governance and sustainable business practices
“Our strong nine-month performance underscores the resilience of NBF’s business model, our ability to manage risk prudently, and our relentless focus on customer-centric growth,”
said Adnan Anwar, Chief Executive Officer of NBF. “Amid a challenging global environment, we continue to invest strategically in digital transformation, people, and innovation, positioning NBF for sustainable growth in the years ahead.”
Shareholding and Ratings
NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC, and the Investment Corporation of Dubai. The bank maintains strong credit ratings of Baa1 / Prime-2 (Moody’s) and BBB+ / A-2 (S&P), both with a stable outlook, and is listed on the Abu Dhabi Securities Exchange (ADX) under the symbol “NBF”
