National Bank of Fujairah
 | |
Native name | National Bank of Fujairah PJSC |
|---|---|
| Industry | Financial services |
| Founded | 1982 |
| Headquarters | Hamad Bin Abdullah Street, PO Box 887 Al Fujairah Building, Khalid Bin Waleed Street, PO Box 2979, Dubai, , |
Key people | Vince Cook (CEO) |
Number of employees | about 762 |
| Website | https://www.nbf.ae/en |
National Bank of Fujairah is a full-service corporate bank that offers corporate and commercial banking, treasury and trade finance services, personal banking options, and Shari’a-compliant services.
The bank is rated Baa1/Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s [1] and BBB+/A-2 by Standard & Poor’s, both with a stable outlook. It is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”.[2]
Business focus[edit]
National Bank of Fujairah provides corporate banking, business banking, and personal banking services along with trade finance, treasury, cash management, precious metals and diamonds, and Islamic banking support. In 2017, the bank was the first conventional bank to join Nasdaq Dubai’s Islamic Murabaha platform for Islamic financing.[3]
Branch network[edit]
The bank has 14 branches across the UAE, with head offices in Dubai and Fujairah.
- Abu Dhabi
- Mussafah
- Al Ain
- Al Ras
- Bur Dubai
- Jebel Ali
- Sharjah
- Fujairah
- Dibba
- Fujairah Court
- Fujairah Free Zone
- Masafi
- Qidfah
- Tawian
Operations[edit]
The bank was established in 1982 and commenced operations in 1984.
Ownership[edit]
The bank's shareholders' profile, as of March 31, 2024, is as follows:[4]
- Department of Industry and Economy - Government of Fujairah - 40.89%
- Easa Saleh Al Gurg LLC - 21.49%
- Investment Corporation of Dubai - 8.74%
- Fujairah Investment Company - 5.22%
- Citizens of the United Arab Emirates - 23.66%
Subsidiaries[edit]
The bank has 2 subsidiaries:
NBF Financial Services FZC[edit]
Established in December 2004, with limited liability status in the Fujairah Free Trade Zone, NBF Financial Services FZC provides the bank with key financial advisory and support services.
NBF Markets (Cayman) Ltd[edit]
Registered in the Cayman Islands as an exempted company limited by shares under the Companies Law (revised) of the Cayman Islands and regulated by the Cayman Island Government General Registry.
The Company was established on 31 January 2017 to provide support services to the Bank to enter into foreign exchange and derivative transactions with financial institutions / counterparties under the terms and conditions of the International Swaps and Derivatives Association (ISDA).
Board of directors[edit]
- Sheikh Saleh Bin Mohamed Bin Hamad Al Sharqi, Chairman
- Dr. Raja Easa Al Gurg, Deputy Chairperson
- Sheikh Hamad Bin Saleh Bin Mohamed Al Sharqi
- Hussain Mirza Al Sayegh
- Khalil Ebraheim Hassan
- Saif Sultan Al Salami
- Mohamed Obaid Bin Majed Al Aleeli
- Abdulla Fareed Al Gurg
- Ahmed Saeed Al Raqbani
Management[edit]
- Vince Cook, Chief Executive Officer
- Adnan Anwar, Deputy Chief Executive Officer
- Brian Martin Mulholland, Chief Financial Officer
- Stuart Wright - Acting Chief Risk Officer
- Balaji Krishnamurthy, Chief Operations Officer
- Abdulla Aleter, Head of Human Resources
- Sharif Mohd. Rafei, Head of Retail Banking
- Mahendra Dhillon, Chief Technology Officer
References[edit]
- ^ "Moody's assigns Baa1/P-2 deposit ratings to National Bank of Fujairah". Moody’s Investors Service.
- ^ "National Bank of Fujairah PJSC". Bloomberg.
- ^ "National Bank of Fujairah joins Nasdaq Dubai Murabaha Platform for enhanced and efficient Islamic financing". Nasdaq Dubai.
- ^ "Shareholder Ownership Details". National Bank of Fujairah.
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