National Bank of Fujairah PJSC (NBF) posted its second consecutive year of record results; reporting its best ever operating and net profit performance to deliver a dividend of 15% in the form of cash dividends
18 March 2025: NBF held its Annual General Assembly Meeting (AGAM) today at the Novotel Hotel, Fujairah, United Arab Emirates, where shareholders approved the distribution of profits equivalent to 15% of share capital in the form of cash dividends (AED 387.1 million) of paid-up capital.
The bank’s shareholders also approved the Chairman’s and Directors’ Reports, and the Internal Shari’ah Supervision Committee Report for NBF Islamic, the Islamic banking window of NBF. The bank’s consolidated financial statements for the year ended 31 December 2024 were also discussed and approved.
The shareholders confirmed the appointment and remuneration of the bank’s external auditors, PricewaterhouseCoopers (“PwC”) for the year 2025. The Board of Directors’ remuneration proposal for its members was also approved.
Additionally, the shareholders ratified appointment of the Internal Shari’a Supervision Committee member, Dr. Ashraf Hashim, and ratified appointment of Dr. Moahamed Al Bedwawi and Mr. Abdel Aziz Al Kamali as Trainee members for NBF Islamic, the Islamic Banking Window of National Bank of Fujairah PJSC, was considered and approved for the next three years and fix their remuneration, uponrecommendation by the Board of Directors.
H.H. Sheikh Saleh Bin Mohamed Bin Hamad AlSharqi, Chairman said:
Our performance in 2024 reflects the strength of our strategic approach and the depth of our market insight. 2024 was a year that underscored our resilience, adaptability, and commitment to excellence.We continued to deliver remarkable results, demonstrating our capacity for sustained momentum and quality growth.
On behalf of the Board, I was pleased to recommend a dividend distribution of profits of 15% of the paid-up capital in the form of cash dividends.
I would like to thank NBF’s Board of Directors, leadership team, and our employees for their continued hard work and dedication. we remain steadfast in our mission to deliver exceptional value, drive innovation, and uphold the highest standards of integrity."
Dr Raja Easa Al Gurg, Deputy Chairperson said:
"Another year, another set of stellar results. NBF’s impressive performance reflects the bank’s relentless execution of key strategies, the resilience of its core business, and its ability to deliver strong results across diverse segments. This success is a testament to the bank’s efforts to embrace cutting-edge technology, diversify across non-hydrocarbon sectors, and forge strategic global partnerships to bolster the UAE’s position as a global business hub.
Together, we will continue to build on our strong foundation, delivering value and driving growth in alignment with the aspirations of the UAE."
[End]
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’ah 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 and BBB+ / A-2 by Standard & Poor’s, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 14 across the UAE.
For further information, please contact:
Strategic Marketing and Communications Department
E-mail: CorpComm@nbf.ae
Telephone: +971 4 507 8351 and +971 4 507 8576