FUJAIRAH - The National Bank of Fujairah, NBF, today reported its full year financial results for the year ended 31st December 2019, announcing a net profit of AED552.2 million.

The bank also announced in a press statement a total comprehensive income of AED611.5 million, up 4.5 percent compared to AED585.4 million in 2018, as a result of improved investment performance in fair value through other comprehensive income, FVOCI, which reached AED59.3 million in 2019.

Commenting on the announcement, Sheikh Saleh bin Mohamed bin Hamad Al Sharqi, NBF Chairman, said, "Taking into account the 2019 performance and the current market conditions, I, on behalf of the Board of Directors, am pleased to recommend a distribution of profits of 13.5 percent in the form of cash dividends of 10 percent and bonus shares of 3.5 percent of paid-up capital."

© Copyright Emirates News Agency (WAM) 2020.