National Bank of Fujairah PJSC (NBF) wins big at MEA Finance Awards 2021
Bank recognised as ‘Best Trade Finance Provider’ and ‘Best SME Bank’
National Bank of Fujairah (NBF) PJSC announced today that it won the "Best SME Bank" and "Best Trade Finance Provider" awards at the MEA Finance 2021 Awards.
The MEA Finance Banking Technology awards provide international recognition for and celebrate the achievements of the region's leading banks, financial institutions, and technology providers, shining the spotlight on the banks that build smarter, more effective and more efficient solutions for their clients.
Reflecting on winning these prestigious awards, Vince Cook NBF’s CEO, said: “In line with the UAE national economic vision, the coming era focuses on enhancing the role of enablers in new economy sectors, with SMEs being an important pillar to the financial sector. Consistent with its long-term commitment to the SME ecosystem, the bank continues to provide financial support and multi-sector expertise, including trade finance solutions, to enable businesses to succeed and flourish. We pride ourselves with these awards as they serve as true acknowledgement of the bank’s leadership in this important sector.”
Best Trade Finance Provider
NBF has been at the forefront, a key industry player in setting the pace of the country’s trade growth and development. NBF trade financing portfolio remains steady and contributes to 40% of the bank’s revenue. The bank also provides structured trade financing solutions specifically tailored to the diversified needs of clients.
Best SME Bank
The SME segment is a key pillar of the bank’s growth, contributing 24% of NBF’s net profit in 2020. NBF embarked on developing a broad range of products based on a thorough understanding of customers’ needs and continues to enhance this suite to better meet customers' ongoing business requirements. NBF offers a comprehensive portfolio that includes regular working capital facilities, collateral-free business term loans, long-term loans for constructions of offices/warehouses, CAPEX, project financing, parameterised lending, and more.
Vince Cook added, “The awards indicate that we are on the right track. The bank’s tradition of service excellence and trade expertise put it in a strong position to play a leading role not only in its customers’ growth, but at the forefront of the country’s development as a global trading hub.”
About National Bank of Fujairah PJSC:
Incorporated in 1982, National Bank of Fujairah PJSC (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 and Shari’a compliant services. 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 LLC and Investment Corporation of Dubai. Rated Baa1 / Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s with a stable outlook; and BBB / A-2 by Standard & Poor’s with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 15 (of which 1 is an electronic banking service unit) across the UAE.
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Telephone: +971 4 507 8351 and +971 4 507 8576