The National Bank of Fujairah proposes to pay a cash dividend of 7 percent and reward shareholders with a 1:10 bonus, on the back of a 65 percent surge in net profit to Dh51.44 million for 2000, The Gulf News reported Monday. According to the bank statement, the interest income grew 28 percent and other income 42 percent.
The bank also recorded growth in fee income and foreign exchange earnings.
Progress was recorded across a broad front, with customer deposits standing at Dh1.92 billion, up 23 percent, and loans and advances climbing 12 percent to Dh1.6 billion.
General Manager Michael Williams was quoted by the paper as saying that the bank had been able to grow in a competitive market while maintaining high credit standards and strong liquidity.
"Further investments have been made in systems and our team has been strengthened to ensure that our customers continue to receive good service," he said – Albawaba.com
