NBF posted its best half yearly net profit after tax of AED 688.9 million, up 10.2% vs H1 2025
NBF is pleased to announce its results today for the six-month period ended 30 June 2026.
Highlights:
- NBF recorded year-on-year growth of 10.1% to close the six-month period at a net profit before tax of AED 757.1 million compared to AED 687.6 million in the corresponding period of 2025. Further, NBF posted its best ever net profit after tax for a half year, amounting to AED 688.9 million, compared to AED 625.4 million in the corresponding period of 2025 with a corporate tax charge of AED 68.2 million. On the back of a strong Q2 2026 performance, NBF posted a net profit after tax of AED 346.6 million in the second quarter of 2026, a rise of 8.8% over the corresponding quarter of 2025. These results exhibit a high level of resilience in the bank’s core business and effective asset and liability management amidst on-going geopolitical conflict, heightened uncertainty, volatility, oil price fluctuations and an expected overhang of recession and inflation testing the growth environment for all banks. Moreover, reduction in impairment provisions and continued careful management of costs and cost of risk, also contributed to this robust set of results.
- NBF posted an operating profit of AED 990.2 million for the six-month period, down by 0.4% compared to AED 994.2 million in the corresponding period of 2025, and up 0.6% for the three-month period ended 30 June 2026 over the corresponding period of 2025 reflecting the investments in its people, customers, process, technology, compliance and governance in line with the bank’s long-term strategy.
- Operating income reached AED 1.38 billion, up 1.6% compared to AED 1.36 billion in the corresponding period of 2025; and down 0.6% for the three-month period ended 30 June 2026 over 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 grew 6.3% to AED 984.1 million for the six-month period ended 30 June 2026 compared to AED 926.1 million in the corresponding period of 2025. It was up 2.9% for the three-month period ended 30 June 2026 compared to the corresponding period of 2025.
- Net fees, commission and other income and foreign exchange and derivatives income stood at AED 280 million and AED 107.9 million respectively; compared to AED 314.7 million and AED 110.7 million in the corresponding period of 2025.
- Income from investments and Islamic instruments marked a good growth of 12.8% compared to the corresponding period of 2025, reaching AED 9.2 million.
- Operating expenses increased by 7% for the six-month period ended 30 June 2026 compared to the corresponding period of 2025 with the increased focus and investments on governance and compliance initiatives, operating efficiency and excellence combined with investments in digitalization. The bank has been making additional investments for further resilience in operations and business continuity for continued sustainable operations of the bank. Further, NBF’s cost-to-income ratio stood at 28.3% compared to 26.9% in the corresponding period of 2025, 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 233.1 million for the six-month period ended 30 June 2026 compared to AED 306.6 million in the corresponding period of 2025, representing a substantial reduction of 24%. The asset quality measured by the combined IFRS 9 stage 2 and 3 mix stood at 7.67% compared to 7.26% as at 31 December 2025. The NPL ratio stood at 3.94% compared to 3.95% as at 31 December 2025. The total provision coverage ratio improved to 151.5% compared to 139% as at 31 December 2025. Within these results, the bank has also taken the opportunity to prudently enhance stage 1 and 2 provisions for the potential impact of the exceptional nature of the current circumstances.
- Total assets rose by 2.6% to reach AED 71.2 billion compared to AED 69.4 billion at 2025 year-end, up by 10.6% from 30 June 2025.
- Loans and advances and Islamic financing receivables stood at AED 36.1 billion compared to AED 37.5 billion at 2025 year-end, up by 1.2% from 30 June 2025.
- Investments and Islamic instruments rose by 14.8% to reach AED 21.3 billion compared to AED 18.5 billion at 2025 year-end, up by 21.3% from 30 June 2025. The bank’s approach towards high-quality investments whilst maintaining liquidity continues and this has augmented both the quality of the book and the return it generates.
- Customer deposits and Islamic customer deposits rose by 1.4% to reach AED 51.7 billion compared to AED 51 billion at 2025 year-end, up by 8.6% from 30 June 2025. Current and Saving Accounts (CASA) deposits stood at 44.1% of total customer deposits, balancing the impact of fixed-term deposit products.
- Ample liquidity has been maintained with lending to stable resources ratios at 63.8% (2025: 68.9%) and eligible liquid assets ratio (ELAR) at 31.5% (2025: 30.5%), well ahead of Central Bank of the UAE’s minimum requirements.
- The capital adequacy ratio (CAR) improved to 17.4% (Tier 1 ratio of 16.3% and CET 1 ratio of 16.3%) compared to 16.0% (Tier 1 ratio of 14.9% and CET 1 ratio of 14.9%) at 2025 year-end; well above the regulatory requirements and ensuring a robust financial foundation.
- Return on average assets was maintained at the 30 June 2025 level of 2.0%.
- Return on average equity stood at 17.7% compared to 17.9% in the corresponding period of 2025.
- NBF’s rating was re-affirmed at Baa1 / Prime-2 for deposits and A3 for the counterparty risk assessment by Moody’s and BBB+ / A-2 by Standard & Poor’s, both with a stable outlook highlighting the bank’s underlying strength, prudent risk management and resilience.
Dr. Raja Easa Al Gurg, Deputy Chairperson expressed:
“The first half of 2026 continued to present a dynamic global operating environment, shaped by evolving economic conditions and geopolitical developments. Against this backdrop, the UAE economy continued to demonstrate resilience, supported by its strong fundamentals, progressive economic agenda and sustained focus and investment across key sectors.
As the UAE continues to advance its long-term economic vision, NBF remains committed to supporting its customers and contributing to the nation’s sustainable growth.
We continued with the upward trajectory of our financial and operational performance reinforcing our commitment to achieving sustainable growth, driven by our four strategic pillars, supported by robust capital adequacy, healthy liquidity, improved asset quality and a well-diversified balance sheet.”
Adnan Anwar, Chief Executive Officer said:
“NBF recorded one of its strongest quarters in Q2 2026 underscoring the strength of its core business and the continued execution of its holistic strategy. We are well-positioned to sustain our momentum in the current volatile environment with a performance based on resilience and the long-term aspiration to do better. We are investing in our people, customers, processes and technologies to enable our long-term growth strategy on a sustainable basis. We continue to play an active role in the continued development of the UAE economy based on goals that are in line with the measures and strategies of the UAE Government, the leadership of the country and the Central Bank of the UAE.
Looking ahead, we are confident of meeting our strategic objectives, enhancing stakeholder value coupled with supporting our environment, social and governance (‘ESG’) initiatives in an evolving and challenging global and domestic landscape.”
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 and Easa Saleh Al Gurg LLC. 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 15 across the UAE.
