Monday 18, July 2011 by
National Bank of Fujairah 2011 H1 profit soars 51 per cent
NBF’s loan loss provision was AED 62.5 million ($16.9 million) compared to AED 97.2 ($26.5 million) in the corresponding period of 2010. Operating income grew by 8.1 per cent to AED 301.2 million ($82 million). Net interest income of AED 198.9 million ($54.2 million) registered a growth of 13.6 per cent on year-ago levels. Operating expenses rose by 14.4 per cent from AED 102.3 million ($27.9 million) to AED 117.1 million ($31.9 million) leading to a rise in the cost-to-income ratio to 38.9 per cent (2010: 36.7 per cent).
