NBF records net profits in H1

National Bank of Fujairah (NBF) achieved a 17% increase in net profits

  
Traders react during the opening of the Dubai stock market June 26, 2016. Image used for illustrative purpose.

Traders react during the opening of the Dubai stock market June 26, 2016. Image used for illustrative purpose.

REUTERS/Ahmed Jadallah
Abu Dhabi – Mubasher: The National Bank of Fujairah (NBF) achieved a 17% increase in net profits to AED 76.2 million during the first half (H1) of 2021 from AED 65.1 million in H1-20.

The growth in net profits is attributed to lower net impairment losses of AED 425.74 million in H1-21 compared to AED 456.29 million in the same period last year, according to a bourse disclosure on Sunday.

Total operating expenses stood at AED 222.6 million in the January-June 2021 period, compared to AED 234.2 million in the prior-year period.

Source: Mubasher

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