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National Bank of Fujairah profits rise 27% in H1

National Bank of Fujairah profits rise 27% in H1
Photo Credit: Arabianeye-Reuters
NBF
NBF
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Abu Dhabi – Mubasher: The National Bank of Fujairah (NBF) has reported a net profit of AED 303.6 million ($82.6 million) in the first six months of 2015, registering an increase by 26.7% from AED 239.5 million ($65.18 million) in the same period in 2014, the bank said in a filing to the Abu Dhabi Securities Exchange (ADX).

NBF’s operating profits stood at AED 390.5 million in H1 this year compared to AED 304.6 million in H1-14. Total deposits grew 24.5% to AED 19.5 billion, up from AED 17.9 billion in the same period in 2014.

The ADX-listed bank previously posted a 29.6% increase in its net profits for Q1-15 to AED 149.46 million ($40.7 million) compared to AED 115.3 million ($31.4 million) during the corresponding period in 2014.