National Bank of Fujairah strengthens foothold in corporate advisory with "NBF Capital"
Fully-owned subsidiary to leverage bank’s experience and financial know-how to provide corporate advisory for its customers
National Bank of Fujairah PSC (NBF) announced today the establishment of NBF Capital Limited, a fully-owned subsidiary that seeks to complement the bank's traditional lending business with a comprehensive suite of financial advisory solutions.
Operating out of Dubai International Financial Center (DIFC), NBF Capital's advisory services will cover financial activities ranging from loan syndication, mergers and acquisitions to business formation and corporate restructuring. The subsidiary will be staffed by NBF corporate bankers well-versed in the region and also have at its helm one of the most experienced bankers in the business, P. B. Das, formerly the bank's Head of Wholesale & Institutional Banking.
Vince Cook, NBF's Chief Executive Officer, said that the creation of a formal entity fully owned by the bank and focused exclusively on advisory services is a logical extension of its corporate banking business.
"We are seeing a growing demand for financial advisory services from companies that may not have the inclination or wherewithal to recruit the services of big, multinational investment banks and consulting firms, and are confident that NBF Capital can serve as a viable alternative.
NBF Capital will leverage the parent bank's strong balance sheet, extensive track record and longstanding relationship model to provide a more disciplined and consistent approach towards helping clients maximise the opportunities within the region."
Mr. Das, who brings with him more than 40 years of banking experience to NBF Capital as its Senior Executive Officer, said: "The segregation of NBF's financial advisory capabilities from its traditional lending business via the subsidiary route would not only allow us to abide by higher standards of governance and transparency, it would also sharpen our focus on delivering end-to-end financial solutions to customers.
We are confident that NBF Capital will play an instrumental role in deepening NBF's corporate banking franchise and enhance its reputation as a preferred bank for business in the UAE."
H.E. Sir Easa Saleh Al Gurg, KCVO, CBE, NBF's Deputy Chairman said: "We are pleased to see NBF venturing into new business areas that will see the bank generate further returns for shareholders and derive better value for customers. The bank remains resolutely committed to the development of the local economy and with the establishment of new initiatives like NBF Capital, will further contribute to the UAE's success as a global hub for business and finance."
NBF Capital Limited is regulated by the Dubai Financial Services Authority. It is operating out of temporary premises in DIFC, but will move permanently into the centre's precinct building 4 later in the summer. For further enquiries about NBF Capital, please email email@example.com.
About National Bank of Fujairah PSC:
Incorporated in 1982, National Bank of Fujairah PSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.
NBF's key shareholders include the Government of Fujairah, Easa Saleh Al Gurg Company LLC and Investment Corporation of Dubai. It is listed on the Abu Dhabi Securities Exchange under the symbol "NBF" and has a branch network of 14 across the UAE.
Corporate Communications Department
Telephone: +971 4 397 1700
Facsimile: +971 4 3972 371