"Fujairah National" earns 552.2 million dirhams in 2019

National Bank of Fujairah achieved a profit of 552.2 million dirhams during the year 2019.

According to the Emirates News Agency, the total comprehensive income of the bank amounted to 611.5 million dirhams, an increase of 4.5% compared to 585.4 million dirhams in 2018, as a result of the improvement in investments that were determined at fair value through other comprehensive income by 59.3 million dirhams in 2019. p>

Loans, advances and Islamic financing receivables increased by 3.4%, to reach 26.2 billion dirhams at the end of 2018, to 27.1 billion dirhams in 2019.

Islamic investments and tools increased by 1.24% from 2.7 billion dirhams to 3.4 billion dirhams. Customer and Islamic deposits of customers grew by 4.8% to reach 31.9 billion dirhams, compared to 30.5 billion dirhams at the end of 2018.

Total assets increased by 7.6% to 42.8 billion dirhams, as it was 39.8 billion dirhams.

Sheikh Saleh bin Mohammed Al Sharqi, Chairman of the Bank’s Board of Directors, said - in a statement that the bank posted on the website of the Abu Dhabi Stock Exchange - the Board of Directors is pleased to pay tribute to the flexible performance, strong liquidity, strong capital adequacy and rewarding returns achieved this year in the face of the operational environment Difficult .. stressing that our core business and the strength of the balance sheet and flexible operating platform provide the basis for our future progress and places the National Bank of Fujairah in a good position to deal with the rapidly changing economic and regulatory environment.

He emphasized that the Board of Directors trusts the opportunities of the group as we move to 2020 through a clear strategy to support high-quality business and support our customers as well as maintain a focus on sustainable results in the long term and maintain the financial stability of the group ..