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10-02-20
UAE: NBF's net profit reaches AED552.2 million
(MENAFN) The whole year financial results for the year ended 31st December 2019 were released by the National Bank of Fujairah, NBF with net revenue of AED552.2 million.
Profits of AED611.5 million were announced, which is an increase of 4.5 percent in comparison with AED585.4 million in 2018, due to enhanced investment performance in fair value through other comprehensive income, FVOCI, which stood at AED59.3 million in 2019, according to a statement by the bank.
"Taking into account the 2019 performance and the current market conditions, I, on behalf of the Board of Directors, am pleased to recommend a distribution of profits of 13.5 percent in the form of cash dividends of 10 percent and bonus shares of 3.5 percent of paid-up capital," as said by commenting on the announcement, Sheikh Saleh bin Mohamed bin Hamad Al Sharqi, NBF Chairman.
MENAFN1002202000450000ID1099679565
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