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NNaattiioonnaall BBaannkk ooff FFuujjaaiirraahh PPJJSSCC
FFoorr tthhee nniinnee mmoonntthh ppeerriioodd eennddeedd 3300 SSeepptteemmbbeerr 22002233
NNBBFF''ss nniinnee mmoonntthhss nneett pprrooffiitt ssuurrggeess 112222..55%% ttoo rreeaacchh AAEEDD 551133..22 mmiilllliioonn
2255 OOccttoobbeerr 22002233:: NNBBFF iiss pplleeaasseedd ttoo aannnnoouunnccee iittss rreessuullttss ttooddaayy ffoorr tthhee nniinnee mmoonntthh ppeerriioodd
eennddeedd 3300 SSeepptteemmbbeerr 22002233..
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eennddeedd 3300 SSeepptteemmbbeerr 22002233
NNBBFF rreeccoorrddeedd yyeeaarr --oonn --yyeeaarr ggrroowwtthh ooff 112222..55%% ttoo cclloossee tthhee nniinnee mmoonntthh ppeerriioodd wwiitthh aa nneett
pprrooffiitt ooff AAEEDD 551133..22 mmiilllliioonn ccoommppaarreedd ttoo AAEEDD 223300..77 mmiilllliioonn iinn tthhee ccoorrrreessppoonnddiinngg ppeerriioodd.. OOnn
tthhee bbaacckk ooff aa rroobbuusstt QQ33 22002233 ppeerrffoorrmmaannccee,, NNBBFF ppoosstteedd aa nneett pprrooffiitt ooff AAEEDD 118811..00 mmiilllliioonn
iinn tthhee tthhiirrdd qquuaarrtteerr ooff 22002233,, aa rriissee ooff 112255..88%% oovveerr tthhee ccoorrrreessppoonnddiinngg qquuaarrtteerr,, wwhhiicchh
rreefflleeccttss tthhee bbaannkk''ss hhiigghh lleevveell ooff rreessiilliieennccee iinn iittss ccoorree bbuussiinneessss,, aann iimmpprroovveemmeenntt iinn
iimmppaaiirrmmeenntt pprroovviissiioonnss aanndd tthhee hhiigghh iinntteerreesstt rraattee eennvviirroonnmmeenntt..
AAiiddeedd bbyy hhiigghheerr nneett iinntteerreesstt iinnccoommee aanndd nneett iinnccoommee ffrroomm IIssllaammiicc ffiinnaanncciinngg aanndd iinnvveessttmmeenntt
aaccttiivviittiieess aanndd ffeeee iinnccoommee,, NNBBFF ppoosstteedd aann ooppeerraattiinngg pprrooffiitt ooff AAEEDD 11..22 bbiilllliioonn ffoorr tthhee nniinnee
mmoonntthh ppeerriioodd,, aa ssuubbssttaannttiiaall iinnccrreeaassee ooff 2266..66%% ccoommppaarreedd ttoo AAEEDD 993322..55 mmiilllliioonn iinn tthhee
ccoorrrreessppoonnddiinngg ppeerriioodd aanndd uupp 2222..33%% ffoorr tthhee tthhrreeee mmoonntthh ppeerriioodd eennddeedd 3300 SSeepptteemmbbeerr 22002233
oovveerr tthhee ccoorrrreessppoonnddiinngg qquuaarrtteerr..
KKeeyy pprrooffiitt aanndd lloossss ffiigguurreess ffoorr tthhee nniinnee mmoonntthh ppeerriioodd eennddeedd 3300 SSeepptteemmbbeerr 22002233
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4,_159_1161 7 n National Bank of Fujairah
Operating income reached AED 1.7 billion for the nine month period ended 30 September
2023, up 27.7% compared to AED 1.3 billion in the corresponding period, reflecting the
benefit from increasing interest rates and enhanced asset and liability management.
Operating income growth of 24.1% was recorded for the three month period ended 30
September 2023 over the corresponding quarter.
Net interest income and net income from Islamic financing and investment activities grew
47.0% to AED 1.3 billion for the nine month period ended 30 September 2023 compared to
AED 855.4 million in the corresponding period. It was up 29.1% for the three month period
ended 30 September 2023 compared to the corresponding quarter.
Net fees, commission and other income grew 2.6% to AED 310.4 million for the nine month
period ended 30 September 2023 compared to AED 302.7 million in the corresponding
period.
Foreign exchange and derivatives income stood at AED 119.3 million for the nine month
period ended 30 September 2023 compared to AED 142.5 million in the corresponding
quarter.
Operating expenses increased by 30.3%, reflecting NBF's investments in its businesses,
systems, infrastructure and people. These investments include a set of digital initiatives
to further enhance the bank's focus on exceptional customer service through digital
adoption and innovation. Further, the impact of inflation and growth in resources continued
to affect our operating expenses. NBF's cost -to -income ratio stood at 30.0% compared to
29.4% in the corresponding period.
Movement in Operating Income
1,625.1
30- Sep -22 Net interest Net fees and Foreign exchange Loss from Other operating 30 -Sep -23 income and net commission and derivatives investments and income
income from income income Islamic
Islamic financing instruments
and investment
activities
Movement in Operating Expense
504.9
387.4
-1.0
.111=111
30 -Sep- 22 Employee benefits Depreciation and Other operating 3-0S- See-pp2 3
expense amortization expenses
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National Bank of Fujairah PJSC PO Box 887, Fujairah, UAE Tel: 600 565551 Outside UAE: -971 450 78499 Fax: -971 9222 7992 nbf.ae
iik*J1 &Li .1r (02,1 ,,S)1_,1.7j4A4 Page 2 of 5
Commercial Registration room. ileac Often Fujairah
Classified as: NBF External
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Operating income reached AED 1.7 billion for the nine month period ended 30 September
2023, up 27.7% compared to AED 1.3 billion in the corresponding period, reflecting the
benefit from increasing interest rates and enhanced asset and liability management.
Operating income growth of 24.1% was recorded for the three month period ended 30
September 2023 over the corresponding quarter.
Net interest income and net income from Islamic financing and investment activities grew
47.0% to AED 1.3 billion for the nine month period ended 30 September 2023 compared to
AED 855.4 million in the corresponding period. It was up 29.1% for the three month period
ended 30 September 2023 compared to the corresponding quarter.
Net fees, commission and other income grew 2.6% to AED 310.4 million for the nine month
period ended 30 September 2023 compared to AED 302.7 million in the corresponding
period.
Foreign exchange and derivatives income stood at AED 119.3 million for the nine month
period ended 30 September 2023 compared to AED 142.5 million in the corresponding
quarter.
Operating expenses increased by 30.3%, reflecting NBF's investments in its businesses,
systems, infrastructure and people. These investments include a set of digital initiatives
to further enhance the bank's focus on exceptional customer service through digital
adoption and innovation. Further, the impact of inflation and growth in resources continued
to affect our operating expenses. NBF's cost -to -income ratio stood at 30.0% compared to
29.4% in the corresponding period. -
Movement in Operating Income
, 6 1.1 5
1,319.9
2
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30 -Se-p2 2 incN oe mt ein t ae nr de s nt e t ' N coet m f mee iss s a ion nd F ao nre di g dn e re ivxc ah tia vn eg se inveL so ts ms ef nro tsm a nd Othe ir n co op mer ea ting 30 -Sep- 23
income from income income Islamic
Islamic financing instruments
and investment
activities
Movement in Operating Expense
504.9
387.4
MEI
54.3
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30 -Sep -22 Employee benefits Depreciation and Other operating 30- Sep -23
expense amortization expenses
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National Bank of Fujairah PJSC PO Box 887, Fujairah, UAE Tel: 600 565551 Outside UAE: -971 450 78499 Fax: -971 9222 7992 nbf.ae
ak*LII &Li :r (02-11 ice. Page 2 of 5
Commercial Registration No 83 Hem Often Fujairah
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IInnvveessttmmeennttss aanndd IIssllaammiicc iinnssttrruummeennttss iinnccrreeaasseedd bbyy 1166..77%% ttoo rreeaacchh AAEEDD 77..44 bbiilllliioonn
ccoommppaarreedd ttoo AAEEDD 66..33 bbiilllliioonn aatt 22002222 yyeeaarr--eenndd,, uupp bbyy 2255..22%% ffrroomm 3300 SSeepptteemmbbeerr 22002222
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SSuummmmaarryy ooff tthhee ccaasshh fflloowwss aanndd ccaappiittaall eexxppeennddiittuurree dduurriinngg tthhee nniinnee mmoonntthh eennddeedd
3300 SSeepptteemmbbeerr 22002233
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bbooookk ggrroowwtthh,, wwhhiillee lliiqquuiiddiittyy bbaallaanncceess rreemmaaiinn wweellll aabboovvee tthhee bbaannkk''ss rriisskk aappppeettiittee aanndd
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ccoommppaarreedd ttoo AAEEDD 22..33 bbiilllliioonn iinn 3300 SSeepptteemmbbeerr 22002222.. TThhee iinnccrreeaassee iiss mmaaiinnllyy oonn aaccccoouunntt ooff
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DDuurriinngg tthhee nniinnee mmoonntthh ppeerriioodd eennddeedd 3300 SSeepptteemmbbeerr 22002233,, NNBBFF hhaadd iinnccuurrrreedd AAEEDD 8877..77
mmiilllliioonn iinn ccaappiittaall eexxppeennddiittuurree rreellaattiinngg ttoo tthhee aaddddiittiioonnss ooff pprrooppeerrttyy,, eeqquuiippmmeenntt aanndd
iinnttaannggiibblleess ccoommppaarreedd ttoo AAEEDD 5588..66 mmiilllliioonn iinn tthhee ccoorrrreessppoonnddiinngg ppeerriioodd..
KKeeyy PPeerrffoorrmmaannccee IInnddiiccaattoorrss
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DEA
ni
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LI_
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N_. a_ tL io. nb9 aJ l I B C OA) nfA , o-A f 6 F uH jairah
Our Segmented Focus
NBF's business strategy continues to revolve around client relationships, supported by the
segmented approach adopted by the bank to serve its customer needs. This also helps in
building diversification and maintaining stable growth.
Operating income from Corporate and Institutional Banking and Business Banking
customers for the nine month period ended 30 September 2023 was up by 23.7% and
25.0%, respectively, compared to the corresponding period. Operating income from Retail
Banking increased by 15.1%, and Treasury, ALM & others have increased by 48.4%
compared to the corresponding period.
Segments' contribution to Operating Income
345.3 1 232.6
135.5 117.8
0
543.6 435.1
661.2 534.4
Sep- 23 Sep -22
Corporate and Institutional Banking Business Banking
Retail Banking Treasury, ALM and Others
Further, NBF Islamic recorded operating income of AED 111.0 million for the nine month
period ended 30 September 2023 compared to AED 99.4 million in the corresponding
period.
Expectation regarding the economy, sector and its impact on the Bank
NBF has delivered another very encouraging set of results demonstrating the on -going
impact of our business strategy, resilience in our core business and sound improvement
in asset quality. Good growth across our operating and net performance augurs well for
the results of the full year and beyond, despite the numerous challenges in the global
economy and the prevailing macroeconomic uncertainty.
Spurred by strong liquidity conditions underpinned by high oil prices, foreign capital inflows
and strong growth in oil and non -oil sectors, the UAE's economic growth forecast has been
revised for 2023 and 2024 to expand at 3.4 per cent and 3.7 per cent respectively.
Benefitting from this positive economic outlook, NBF is well placed through the strength
of its diversified balance sheet for continued growth in the current interest rate cycle.
Looking ahead, NBF will continue to focus on opportunities to enhance value creation,
diversify its revenue streams and progress the ongoing digital transformation to deliver
exceptional customer service, whilst ensuring its risk management and compliance
practices continue to adapt to meet the high expectations of its stakeholders.
nbf.ae +iv I Irrr +,ri9r :,j.sAi -9V I EO. VAE9.9 :C11$41 alp ejt; jLd.111 1., 010001 ;dine 4thszJI E p 0.1.1 ile911 ,2114
National Bank of Fujairah PJSC PO Box 887, Fujairah, UAE Tel: 600 565551 Outside UAE: -971 450 78499 Fax: -971 9222 7992 nbf.ae
L_5bJJ Page 4 of 5 80.46.11,....4-REAJI .1r
Commercial Regatta:lel No thee Cffce fearer
Classified as: NBF External
M
DEA
ni
serugiF
nbf
nbf Islamic
n .11'4 National Bank of Fujairah
Our Segmented Focus
NBF's business strategy continues to revolve around client relationships, supported by the
segmented approach adopted by the bank to serve its customer needs. This also helps in
building diversification and maintaining stable growth.
Operating income from Corporate and Institutional Banking and Business Banking
customers for the nine month period ended 30 September 2023 was up by 23.7% and
25.0%, respectively, compared to the corresponding period. Operating income from Retail
Banking increased by 15.1%, and Treasury, ALM & others have increased by 48.4%
compared to the corresponding period.
Segments' contribution to Operating Income
34513 232.6
135.5 117.8
543. 435.1
I
661.2 534.4
Sep- 23 Sep -22
Corporate and Institutional Banking Business Banking
Retail Banking Treasury, ALM and Others
Further, NBF Islamic recorded operating income of AED 111.0 million for the nine month
period ended 30 September 2023 compared to AED 99.4 million in the corresponding
period.
Expectation regarding the economy, sector and its impact on the Bank
NBF has delivered another very encouraging set of results demonstrating the on -going
impact of our business strategy, resilience in our core business and sound improvement
in asset quality. Good growth across our operating and net performance augurs well for
the results of the full year and beyond, despite the numerous challenges in the global
economy and the prevailing macroeconomic uncertainty.
Spurred by strong liquidity conditions underpinned by high oil prices, foreign capital inflows
and strong growth in oil and non -oil sectors, the UAE's economic growth forecast has been
revised for 2023 and 2024 to expand at 3.4 per cent and 3.7 per cent respectively.
Benefitting from this positive economic outlook, NBF is well placed through the strength
of its diversified balance sheet for continued growth in the current interest rate cycle.
Looking ahead, NBF will continue to focus on opportunities to enhance value creation,
diversify its revenue streams and progress the ongoing digital transformation to deliver
exceptional customer service, whilst ensuring its risk management and compliance
practices continue to adapt to meet the high expectations of its stakeholders.
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National Bank of Fujairah PJSC PO Box 887, Fujairah, UAE Tel: 600 565551 Outside UAE: -971 450 78499 Fax: -971 9222 7992 nbf.ae
Page 4 of 5 E.,..ad .7" fa -,j
Commercial Regatta:lel No thee Cffce fearer
Classified as: NBF Externalnnbbff
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IInn ppaarraalllleell,, tthhee bbaannkk iiss ddeevveellooppiinngg iittss hheeiigghhtteenneedd ffooccuuss oonn eennvviirroonnmmeennttaall,, ssoocciiaall aanndd
ggoovveerrnnaannccee [[EESSGG]] aaccttiivviittiieess wwhhiicchh aarree vviittaall ttoo eennssuurree tthhee NNBBFF ffrraanncchhiissee aanndd tthhee
ccoommmmuunniittiieess iinn wwhhiicchh wwee ddoo bbuussiinneessss hhaavvee aa ssuussttaaiinnaabbllee ffuuttuurree..
SShhaarreehhoollddiinngg aanndd RRaattiinngg
NNBBFF''ss kkeeyy sshhaarreehhoollddeerrss iinncclluuddee tthhee GGoovveerrnnmmeenntt ooff FFuujjaaiirraahh,, EEaassaa SSaalleehh AAll GGuurrgg LLLLCC aanndd
IInnvveessttmmeenntt CCoorrppoorraattiioonn ooff DDuubbaaii.. RRaatteedd BBaaaall // PPrriimmee --22 ffoorr ddeeppoossiittss aanndd AA33 ffoorr
ccoouunntteerrppaarrttyy rriisskk aasssseessssmmeenntt bbyy MMooooddyy''ss,, aanndd BBBBBB++ // AA--22 bbyy SSttaannddaarrdd && PPoooorr''ss,, bbootthh wwiitthh
aa ssttaabbllee oouuttllooookk.. TThhee bbaannkk iiss lliisstteedd oonn tthhee AAbbuu DDhhaabbii SSeeccuurriittiieess EExxcchhaannggee uunnddeerr tthhee ssyymmbbooll
""NNBBFF"".. IItt hhaass aa bbrraanncchh nneettwwoorrkk ooff 1144 aaccrroossss tthhee UUAAEE..
..
l1i,o0d/44.,11
AAvvoo
-
-
-
A
VViinnccee CCooookk . nnaann AAnnwwaarr BBrriiaann MMuullhhoollllaanndd
CChhiieeff EExxeeccuuttiivvee OOffffiicceerr DDee puuttyy CChhiieeff EExxeeccuuttiivvee CChhiieeff FFiinnaanncciiaall OOffffiicceerr
I
OOffffiicceerr
nnbbff..aaee +-iivv !1 i9rrrrrr >v9Ic9rr ::,0),A.1.s.0a +-99V V II EOO.. VvPA,fE9l9l ::c.:..1.11))1L.,0441113 aaiglp. eejjLL jj1l..1..71111..11 11.... omlooOoMt ::.wAAilAl. aa..xxmaliaaii'' I ,E11l4.4.u4all) .e.11c,lji...444,11O.6.111, AAnnvy uu ,,yynn 66 ee vvuu i,rliolng.1l1l e6)y4,4ui.l.l1 1:1.1u4
NNaattiioonnaall BBaannkk ooff FFuujjaaiirraahh PPJJSSCC PPOO BBooxx 888877,, FFuujjaaiirraahh,, UUAAEE TTeell:: 86:0X01 556655555511 OOuuttssiiddee UUAAEE:: --997711 445500 7788449999 FFaaxx:: --997711 99222222 77999922 nnbbff..aaee
PPaaggee 55 ooff 55
EEyy66JJ1I .1Tr1 101-:66)) L4.JSIJ4 I147i JL.4J4'4",
CCoommmmeerrcciiaall RReegg rsr:a,etiloonn NNoo 6633.. --lleeaann GGiiffttss FFutipjatiirraahh
CCllaassssiiffiieedd aass:: NNBBFF EExxtteerrnnaall

Sentiment: positive