UAE banks see massive profits boost, NBF up 152%

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UAE banks reported massive profit increases in the first three months of the year. National Bank of Fujairah, National Bank of Ras Al Khaimah, and Abu Dhabi Islamic Bank all reported healthy first-quarter business growth in the UAE.

The first-quarter growth figures are a sure sign of the UAE’s strong economic performance in the face of global uncertainty. National Bank of Fujairah (NBF) reported a 151.8 percent year-on-year increase in net profit for the three-month period to AED152 million, compared to AED60.4 million in the same period in 2022. This demonstrates the bank’s increased focus on quality business, an efficient funding base, and improved resilience, aided by significant local growth despite uncertain geopolitical conditions and a global environment.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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UAE banks see massive profits boost, NBF up 152%

UAE banks reported massive profit increases in the first three months of the year. National Bank of Fujairah, National Bank of Ras Al Khaimah, and Abu Dhabi Islamic Bank all reported healthy first-quarter business growth in the UAE.

The first-quarter growth figures are a sure sign of the UAE’s strong economic performance in the face of global uncertainty. National Bank of Fujairah (NBF) reported a 151.8 percent year-on-year increase in net profit for the three-month period to AED152 million, compared to AED60.4 million in the same period in 2022. This demonstrates the bank’s increased focus on quality business, an efficient funding base, and improved resilience, aided by significant local growth despite uncertain geopolitical conditions and a global environment.

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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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