National Bank of Fujairah PJSC (NBF) – 30 September 2025 Results

NBF posted its best nine months net profit of AED 945.4 million, surging 45.3%
year-on-year underpinned by robust balance sheet growth of 11.7%

NBF is pleased to announce its results today for the nine-month period
ended 30 September 2025.Highlights: NBF recorded year-on-year growth of 45.4% to close the nine-month period at a net
profit before tax of AED 1.04 billion compared to AED 715.0 million in the
corresponding period of 2024. Further, NBF posted its best ever net profit after tax
for a nine-month period, amounting to AED 945.4 million, compared to AED 650.4
million in the corresponding period of 2024 with a corporate tax charge of AED 94.0
million. On the back of a strong Q3 2025 performance, NBF posted a net profit after
tax of AED 320.0 million in the third quarter of 2025, a rise of 52.9% over the
corresponding quarter of 2024. These results show the bank’s continued momentum
on quality business growth and effective asset and liability management amid global
volatility and uncertainty, regional tensions and oil price fluctuations. Moreover,
reduction in impairment provisions and continued careful management of costs and
cost of risk, also contributed to this robust set of results.
 Facilitated by an improvement of AED 68.3 million in investments designated as fair
value through other comprehensive income (FVOCI), NBF’s total comprehensive
income for the period was AED 1.01 billion, up 40.3% compared to AED 722.4 million
in the corresponding period of 2024.
 Supported by higher revenue generation from balance sheet growth and the on-going
cost discipline, NBF posted an operating profit of AED 1.5 billion for the nine-month
period, a rise of 14.3% compared to AED 1.3 billion in the corresponding period of
2024; and up 7.9% for the three-month period ended 30 September 2025 over the
corresponding period of 2024.
 Operating income touched AED 2.0 billion, up 10.6% compared to AED 1.8 billion in
the corresponding period of 2024; and up 6.2% for the three-month period ended 30
September 2025 over the corresponding period of 2024 reflecting the enhanced focus
on key business segment growth, proactive asset and liability management and the bank’s commitment to delivering exceptional customer service. Principal comments
include:
 Net interest income and net income from Islamic financing and
investment activities grew 6.3% to AED 1.4 billion for the nine-month period
ended 30 September 2025 compared to AED 1.3 billion in the corresponding
period of 2024. It was up 9.1% for the three-month period ended 30 September
2025 compared to the corresponding period of 2024.
 Net fees, commission and other income rose 21.3% to AED 434.5 million
for the nine-month period ended 30 September 2025 compared to AED 358.1
million in the corresponding period of 2024.
 Foreign exchange and derivatives income experienced a solid growth of
18.9% compared to the corresponding period of 2024, reaching AED 165.5
million for the nine-month period ended 30 September 2025. It was up 13.0%
for the three-month period ended 30 September 2025 compared to the
corresponding period of 2024.
 Income from investments and Islamic instruments marked a significant
bounce back. In addition, the fair value gain on fair value through profit or loss
(FVTPL) and fair value through other comprehensive income (FVOCI)
investment portfolio also improved by AED 77.4 million during the nine-month
period ended 30 September 2025.
 Operating expenses increased by 2.1%, reflecting NBF’s strategic focus on efficiency
and excellence and investments in digitalization. This is executed with a fine balance
of investments in its businesses, systems, infrastructure and people to deliver
exceptional customer service, enhance innovation and deal with competitiveness in
line with the changing market demands. These measures improved NBF’s cost-toincome
ratio to 28.1% compared to 30.5% in the corresponding period of 2024,
remaining in the mid-industry range.
 NBF maintained its policy of prudent and transparent recognition of problem accounts.
NBF booked net impairment provisions of AED 413.6 million for the nine-month
period ended 30 September 2025 compared to AED 555.7 million in the corresponding
period of 2024, representing a substantial reduction of 25.6%. The asset quality
measured by the combined IFRS 9 stage 2 and 3 mix improved to 8.7% compared to
10.2% as at 31 December 2024.

The NPL ratio improved to 4.5% compared to 5.1% as at 31 December 2024. The total
provision coverage ratio increased to 140.2% compared to 119.4% as at 31 December
2024.
 Total assets rose by 11.7% to reach AED 68.0 billion compared to AED 60.9 billion at
2024 year-end, up by 16.2% from 30 September 2024.
 Loans and advances and Islamic financing receivables rose by 12.1% to reach
AED 36.3 billion compared to AED 32.4 billion at 2024 year-end, up by 17.8% from 30
September 2024.
 Investments and Islamic instruments increased by 14.2% to reach AED 19.6
billion compared to AED 17.2 billion at 2024 year-end, up by 9.1% from 30 September
2024; optimizing a portion of liquidity towards a high-quality investment book to
augment value and return.
 Customer deposits and Islamic customer deposits increased by 7.4% to reach
AED 49.1 billion compared to AED 45.8 billion at 2024 year-end, up by 17.4% from 30
September 2024. Current and Saving Accounts (CASA) deposits stood at 43.7% of
total customer deposits, balancing the impact of fixed-term deposit products.
 Ample liquidity has been maintained with lending to stable resources ratios at
69.0% (2024: 67.3%) and eligible liquid assets ratio (ELAR) at 29.1% (2024:
29.9%), well ahead of Central Bank of the UAE’s minimum requirements.
 The capital adequacy ratio (CAR) stood at 16.8% (CET 1 ratio of 15.7%) compared
to 16.6% (CET 1 ratio of 15.5%) at 2024 year-end; exceeding regulatory requirements
and ensuring a robust financial foundation.
 Return on average assets improved to 2.0%, up from 1.6% for the corresponding
period in 2024.
 Return on average equity improved to 17.6%, up from 11.9% for the corresponding
period in 2024.
 NBF’s rating was re-affirmed at A- by Capital Intelligence, with a stable outlook,
highlighting the bank’s underlying strength, prudent risk management and resilience.

Dr. Raja Easa Al Gurg, Deputy Chairperson said:
“NBF’s remarkable set of results underscores its sustained execution of business and
operational strategy, its flexibility to respond swiftly to global headwinds and maintain
long-term stability, the resilience in its core business and its ability to perform across
business segments in what continues to be an uncertain and volatile global environment,
intensified by geopolitical tensions, trade tariffs and commodity prices fluctuations.
Benefitting from the UAE economy poised to expand 4.5 per cent in 2025; well above the
global average and regional peers, we will continue to scale new heights, build trusted
relationships, deliver exceptional experience to our partners and people, drive digital
innovation, operational efficiency and robust governance, placing us well for sustainable
growth throughout the rest of 2025 and beyond.”

About National Bank of Fujairah PJSC:

Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate
bank with strong corporate and commercial banking, treasury and trade finance expertise
as well as an expanding suite of personal banking options and Shari’ah compliant services.
Leveraging its deep banking experience and market insight within Fujairah and the UAE,
NBF is well-positioned to build lasting relationships with its clients and help them achieve
their business goals.

NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC and
Investment Corporation of Dubai. Rated Baa1 / Prime-2 for deposits and A3 for
counterparty risk assessment by Moody’s and BBB+ / A-2 by Standard & Poor’s, both with
a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol
“NBF”. It has a branch network of 14 across the UAE.