ZAWYA: National Bank of Fujairah PJSC – Q1 2026 results

About this update from National Bank Of Fujairah

NBF’s robust liquidity and capital adequacy and effective asset and liability management positions it well to navigate the uncertain operating environment with confidenceNBF is pleased to announce its results today for the three-month period ended 31 March 2026.Highlights:NBF recorded year-on-year growth of 11.6% to close the three-month period at a record net profit before tax of AED 376.2 million compared to AED 337.2 million in the corresponding period of 2025. Further, NBF posted its best ever net profit after tax for a quarter, amounting to AED 342.3 million, compared to AED 306.8 million in the corresponding period of 2025 with a corporate tax charge of AED 33.9 million. This was driven by a high level of resilience in the bank’s core business and enhanced balance sheet management amidst on-going geopolitical conflict, heightened global volatility and uncertainty, oil price fluctuations and discussions of recession and inflation testing the growth environment for all banks. The improvement in cost of risk, also contributed to this robust set of results.NBF posted an operating profit of AED 495.8 million for the three-month period, down by 1.3% compared to AED 502.5 million in the corresponding period of 2025, reflecting the investments in its people, customers, process, technology, and compliance and governance in line with the bank’s long-term strategy.Operating income reached AED 701.1 million, up 3.8% compared to AED 675.5 million in the corresponding period of 2025 reflecting the enhanced focus on key business segment growth, proactive asset and liability management and the bank’s focus on customer centricity and efficiency and excellence. Principal comments include:Net interest income and net income from Islamic financing and investment activities rose 9.7% compared to the corresponding period of 2025, reaching AED 498.8 million.Net fees, commission and other income and foreign exchange and derivatives income stood at AED 141 million and AED 56.6 million respectively; compared to AED 157.5 million and AED 61 million in the corresponding period of 2025.Income from investments and Islamic instruments marked a good growth of 93.5% compared to the corresponding period of 2025, reaching AED 4.7 million.Operating expenses increased by 18.7% for the three-month period ended 31 March 2026 compared to the corresponding period of 2025 with the focus on g...

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