Wednesday, Mar 19, 2014
Fujairah: Shareholders of the National Bank of Fujairah PSC (NBF) approved a cash dividend of 12.5 per cent (Dh137.5 million) of its paid-up capital, during the Annual Ordinary General Meeting (AGM) on Wednesday.
The chairman’s report, directors’ report, corporate governance report and the consolidated financial statements for the year ended 31 December 2013 were also approved.
The shareholders also approved the appointment and remuneration of the bank’s external auditors for 2014 and the board of directors were elected for the next three years.
“The bank has shown exemplary performance over the years and surpassed its highest net profit by focusing on its core business, service quality and prudent risk management,” said chairman Shaikh Saleh Bin Mohammad Bin Hamad Al Sharqi. We have always concentrated on deepening the client relationships that we have built over the years and also this year improved the bank’s long-term funding structure and quality of capital for future growth.”
The amending and restating of the Memorandum and Articles of Association of the bank is a further enhancement to ensure the bank’s governance framework is aligned with the latest corporate governance principles and advanced investor relations practices.”
Staff Report
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