December 3, 2023

National Bank of Fujairah posts net loss of Dhs475m for 2020

National Bank of Fujairah (NBF) has recorded a net loss of Dhs475.3m for 2020, marking a 186 percent drop from Dhs552.2m in net profit recorded in 2019.

The decline was attributed to a substantial increase in impairment provisions and lower operating profit. The board of directors did not propose a distribution of…

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