National Bank of Fujairah (NBF): Corporate Banking Strength, Regional Reach, and UAE Financial Significance

In an era where UAE banks are increasingly evaluated on balance-sheet resilience, sector specialization, and regulatory alignment, National Bank of Fujairah PJSC (NBF) stands out for a different reason: it has quietly built one of the strongest corporate and trade-finance franchises in the country while expanding selectively into personal and Islamic banking. Founded by royal decree and deeply linked to Fujairah’s economic development, NBF occupies a distinct position in the UAE’s banking ecosystem—neither a mass retail giant nor a niche boutique, but a relationship-driven corporate bank with national relevance.

What Is the National Bank of Fujairah?

National Bank of Fujairah PJSC (NBF) is a UAE-based public joint-stock company, founded in 1982 and operational since 1984, with its headquarters in the Emirate of Fujairah and executive offices in Dubai. The bank is listed on the Abu Dhabi Securities Exchange (ADX) under the ticker NBF.

NBF provides:

• Corporate and business banking
• Trade finance and treasury services
• Cash management
• Personal banking
• Islamic (Shariah-compliant) banking solutions

It operates under the regulatory oversight of the Central Bank of the UAE, aligning its capital adequacy, liquidity, and risk frameworks with UAE banking law and Basel standards.

NBF’s Strategic Role in the UAE Banking Landscape

Unlike retail-heavy banks focused on consumer lending, NBF’s historical strength lies in corporate banking, particularly:

• SMEs and mid-sized enterprises
• Large corporations in trade, logistics, manufacturing, commodities, and infrastructure
• Government-linked and semi-government entities

This focus makes NBF structurally important for:

• Trade flows through the Northern Emirates
• Industrial and logistics financing
• Cross-border trade finance linked to Dubai ports and free zones

NBF’s decision in 2017 to become the first conventional bank to join Nasdaq Dubai’s Islamic Murabaha platform further positioned it as a hybrid institution capable of serving both conventional and Islamic finance clients without duplicating infrastructure.

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Financial Performance and Balance Sheet Strength

NBF’s recent financial performance reinforces its reputation as a conservatively managed yet growth-oriented bank.

Key Financial Highlights (2025)

• Net profit after tax: AED 625.4 million (H1 2025)
• Pre-tax profit growth: +41.8% year-on-year
• Total assets: AED 64.5 billion (Q1 2025, record high)

These figures reflect:

• Strong net interest income driven by higher-rate environments
• Stable asset quality despite global economic volatility
• Disciplined exposure to cyclical sectors

For investors and analysts, NBF is often viewed as a rate-sensitive corporate lender with controlled risk appetite, rather than an aggressive growth bank.

Credit Ratings and Market Confidence

International rating agencies continue to assign NBF investment-grade ratings, underscoring its balance-sheet resilience:

• Moody’s
  • Deposits: Baa1 / Prime-2
  • Counterparty Risk: A3
• Standard & Poor’s
  • Long-term: BBB+
  • Short-term: A-2

These ratings matter in practice because they:

• Lower funding costs in wholesale markets
• Enable competitive pricing for corporate clients
• Signal regulatory and governance stability to international counterparties

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Ownership Structure and Governance

Who Owns the National Bank of Fujairah?

NBF has a diversified but locally anchored shareholder base, reflecting strong institutional backing within the UAE:

• Government of Fujairah (Department of Industry & Economy): 49.45%
• Easa Saleh Al Gurg LLC: 18.54%
• Investment Corporation of Dubai (ICD): 7.54%
• Fujairah Investment Company: 5.22%
• UAE Nationals (public shareholders): 24.47%

This structure provides:

• Government alignment without full state ownership
• Private-sector governance discipline
• Strategic insulation from short-term market pressures

Board of Directors (Selected)

• Sheikh Saleh Bin Mohamed Bin Hamad Al Sharqi – Chairman
• Dr. Raja Easa Al Gurg – Deputy Chairperson
• Senior board members with experience in banking, industry, and government

Governance is a key reason NBF is often classified as a low-volatility UAE banking stock.

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Branch Network and Physical Presence in Dubai and the UAE

NBF operates 14 branches across the UAE, with a strategic—not dense—physical footprint aligned to business hubs.

Key Dubai Branches

• Bur Dubai Branch – Khalid Bin Al Waleed Street (near BurJuman)
• Jebel Ali Branch – Serving logistics, port, and free zone businesses
• Al Ras (Deira) – Trade and commercial activity hub

Other locations include Abu Dhabi, Sharjah, Al Ain, Fujairah Free Zone, Dibba, Masafi, and industrial zones—reinforcing the bank’s trade-centric positioning.

Customers also have access to:

• ATMs and Cash Deposit Machines (CDMs)
• 24/7 call centre: 600 565551

Products and Services: From Corporations to Individuals

Corporate & Business Banking

• Working capital finance
• Trade finance (LCs, guarantees, export/import facilities)
• Structured and project finance
• Treasury and FX solutions
• Cash management and liquidity services

Personal Banking

• Current and savings accounts
• Term deposits
• Personal financing (selective, not mass-market)
• Digital banking platforms

Islamic Banking

• Shariah-compliant financing
• Murabaha-based solutions
• Islamic trade finance

NBF’s product strategy prioritizes depth over breadth, especially for business clients with complex financial needs.

Subsidiaries and International Structuring

NBF operates two key subsidiaries that support its specialised activities:

• NBF Financial Services FZC (Fujairah Free Zone)
  • Advisory and support services
• NBF Markets (Cayman) Ltd
  • Facilitates foreign exchange and derivatives
  • Operates under ISDA frameworks for institutional counterparties

These entities enable NBF to compete effectively in global markets and hedging solutions without relocating core operations outside the UAE.

Is National Bank of Fujairah a Good Bank?

From an analytical perspective, NBF is considered a strong bank for specific user profiles, not a universal retail solution.

Best suited for:

• SMEs and corporates engaged in trade or industry
• Businesses operating in Dubai, Northern Emirates, and free zones
• Clients requiring treasury, FX, or trade-finance expertise
• Investors seeking stable UAE banking exposure

Less suited for:

• High-volume consumer banking
• Lifestyle-driven retail products
• Mass-market digital-only banking

Its strength lies in relationship banking, credit discipline, and institutional credibility.

How NBF Compares Within the UAE Banking Sector

NBF is not designed to compete directly with:

• Emirates NBD (retail scale)
• First Abu Dhabi Bank (universal banking)
• ADCB (consumer + corporate hybrid)

Instead, it competes on:

• Sector expertise
• Risk-adjusted returns
• Trade and SME specialisation

For readers comparing UAE banks, see also:

• EmiratesBreaking.com’s guide to UAE corporate banking models
• Analysis of SME financing options in Dubai
• Comparative overview of Islamic vs conventional banking in the UAE

FAQs

Which country is the National Bank of Fujairah based in?

National Bank of Fujairah is based in the United Arab Emirates, with headquarters in Fujairah and major operations in Dubai.

Is the National Bank of Fujairah government-owned?

NBF is partially government-owned. The Government of Fujairah holds just under 50%, while the remainder is owned by private institutions and UAE nationals.

Is NBF an Islamic bank?

NBF is primarily a conventional bank but offers Shariah-compliant Islamic banking services alongside conventional products.

Is the National Bank of Fujairah listed?

Yes. NBF is listed on the Abu Dhabi Securities Exchange (ADX) under the ticker NBF.

What makes NBF different from other UAE banks?

Its core differentiation lies in corporate banking, trade finance expertise, conservative risk management, and deep ties to industrial and trading sectors.

Is NBF a good bank for businesses in Dubai?

Yes. NBF is particularly well-suited for Dubai-based trading companies, logistics firms, SMEs, and corporates requiring tailored financial solutions rather than mass retail products.

Final Note:

This guide is part of EmiratesBreaking.com’s ongoing coverage of UAE banks, financial institutions, and regulatory developments. For deeper insights, explore our banking explainers, ADX-listed company profiles, and UAE finance analysis sections.