ABU DHABI –Mubasher: National Bank of Fujairah (NBF) reported a 26.35% year-on-year increase in profits during the third quarter of 2018, logging AED 152 million, compared to AED 120.3 million.

The results reflect the bank’s operational high flexibility and budget control amidst rising interest rates, the Emirati lender said in a statement on Wednesday.

From January to September, the bank’s net profit increased by 15.1% to AED 462.1 million, compared to AED 401.4 million for the same period last year.

Operating revenues reached AED 1.2 billion, increasing by 16.6% year-on-year in the nine-month period ended September.

Net interest income and net income from Islamic financing and investing activities grew by 20.7% to AED 812.6 million in the January–September period of 2018, compared to a year earlier period.

Foreign exchange and derivative financial instruments jumped 45.3% to AED 103.1 million for the nine-month period of 2018, compared to AED 71 million in 2017.