Dubai – Mubasher: The National Bank of Fujairah (NBF) is reportedly seeking to sell AED 1.3 billion ($350 million) bonds. 

The state-owned bank plans to issue the Tier 1 bonds to increase its capital.

“It seems to be good time but the question on everybody’s mind is what is going to happen to interest rates,” The National reported, citing NBF’s CEO Vince Cook as saying.

The top official expressed its optimism about the bank’s ability to repeat its positive results during 2018 this year.  

The NBF reported a 30.4% year-on-year profit increase during the full-year 2018, recording AED 615.3 million.