National Bank of Fujairah Overview of Accounts and Loans Options

The National Bank of Fujairah offers a range of accounts to suit different needs, including current, savings, and fixed deposit accounts.

These accounts come with various benefits, such as competitive interest rates, flexible transaction limits, and convenient online banking services.

For individuals and businesses looking to borrow, the bank provides loans with competitive interest rates and flexible repayment terms.

Loans are available for various purposes, including personal loans, home loans, and business loans, with options for both short-term and long-term financing.

Explore further: Huntington National Bank Sba Loans

The National Bank of Fujairah (NBF) was incorporated in October 1982 by a decree from the Emir of Fujairah, Hamad bin Mohammed al-Sharqi.

The bank is headquartered in Fujairah and has branches in four other emirates: Abu Dhabi, Ajman, Dubai, and Sharjah.

The bank's largest shareholders include the government of Fujairah, Dubai-based Easa Saleh al-Gurg Group, state-owned Investment Corporation of Dubai, and Fujairah Investment Company.

Here are the bank's largest shareholders, listed in order of percentage ownership:

The National Bank of Fujairah (NBF) has a well-established structure that has been in place since its incorporation in 1982. The bank is headquartered in Fujairah and has branches in four other emirates: Abu Dhabi, Ajman, Dubai, and Sharjah.

One key aspect of the bank's structure is its ownership. The government of Fujairah holds a significant stake, with 39.4% of the stock through the Department of Industry & Economy. This indicates a strong connection between the bank and the local government.

NBF has a diverse shareholder base, with notable investors including the Easa Saleh al-Gurg Group, Investment Corporation of Dubai, and Fujairah Investment Company. These stakeholders own 19.4%, 9.8%, and 5.2% of the shares, respectively.

The bank's largest subsidiary is NBF Finance Services, which is based in the Fujairah Free Trade Zone and provides support services to the bank. This subsidiary plays a crucial role in the bank's operations, enabling it to offer a range of services to its customers.

Here is a breakdown of the bank's largest shareholders:

Overall, the National Bank of Fujairah's structure is characterized by a strong local connection and a diverse shareholder base.

The bank's ownership structure is a key aspect of its governance. The Department of Industry and Economy - Government of Fujairah holds a significant 40.89% stake.

Easa Saleh Al Gurg LLC is another major shareholder, owning 21.49% of the bank. Investment Corporation of Dubai also has a notable 8.74% stake.

Fujairah Investment Company is a smaller but still significant shareholder, holding 5.22% of the bank's shares. The remaining shares are held by citizens of the United Arab Emirates, accounting for 23.66% of the bank's ownership.

Here's a breakdown of the bank's ownership structure:

The Board of Directors plays a crucial role in the governance of the organization. They are responsible for overseeing the company's overall direction and strategy.

The Chairman of the Board is Sheikh Saleh Bin Mohamed Bin Hamad Al Sharqi, who provides leadership and guidance to the Board.

The Deputy Chairperson is Dr. Raja Easa Al Gurg, who supports the Chairman in their duties.

The Board consists of eight members, including 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, and Ahmed Saeed Al Raqbani.

Here is the list of Board members:

The management team is led by Adnan Anwar, who serves as the Chief Executive Officer. He's the top dog, making key decisions for the organization.

Adnan's team includes Brian Martin Mulholland, who handles the financial aspects as the Chief Financial Officer. This is a crucial role, as it involves managing the organization's finances and making sure it stays on track.

Brian works closely with Stuart Wright, who is currently acting as the Chief Risk Officer. This role involves identifying and mitigating potential risks to the organization.

The human resources department is led by Abdulla Aleter, who serves as the Head of Human Resources. This role involves managing the organization's workforce and ensuring that they have the resources they need to succeed.

Curious to learn more? Check out: Financial Ratios in Banking

In addition to these roles, the organization also has a Head of Retail Banking, who is Sharif Mohd. Rafei. This role involves overseeing the organization's retail banking operations.

Mahendra Dhillon is the Chief Technology Officer, responsible for leading the organization's technology efforts. This is a key role, as it involves developing and implementing technology solutions to support the organization's goals.

Here's a list of the key members of the management team:

The bank has a significant presence in the UAE with 14 branches across the country.

Its head offices are located in Dubai and Fujairah, providing a solid foundation for its operations.

The bank's branch network includes locations in major cities such as Abu Dhabi, Sharjah, and Fujairah, as well as in key industrial areas like Mussafah and Jebel Ali.

Here's a list of the bank's branches:

The bank has been in operation since 1984, following its establishment in 1982.

National Bank of Fujairah has its roots in September 1984, when it opened its first branch in Fujairah, marking the beginning of its banking operations.

The bank grew slowly in its first two decades, but it has accelerated its growth in recent years, expanding its branch network and services. In fact, the bank has more than doubled the size of its branch network to 12 outlets across Abu Dhabi, Dubai, Ajman, and Fujairah.

One of the notable services offered by National Bank of Fujairah is NBF Priority, which provides exclusive services and benefits to its customers. These benefits include priority processing, dedicated relationship manager, reduced fees and preferential rates, and banking without fees.

Here are some of the key services offered under NBF Priority:

The National Bank of Fujairah is currently reviewing its medium-term plans, with ambitions to deepen its product range over the next few years.

This expansion will involve growing its retail banking services while continuing to build its corporate and commercial banking services. The bank's recent strategy has been to reduce its risk exposure and concentrate on its core business sectors.

The bank's focus on core business sectors is likely to lead to a more stable and secure financial environment for its customers. This is especially important in times of financial turmoil.

Here's a look at the bank's current financial performance:

The bank's financial performance has shown improvement over the past year, with an increase in net profit and operating profit.

The National Bank of Fujairah's operations have a rich history dating back to September 1984, when it opened its first branch in Fujairah.

The bank's growth has been steady, with a notable acceleration in recent years, both in terms of the expansion of its branch network and the range of services it offers. This expansion has led to the bank more than doubling its branch network to the current 12 branches.

The bank's services for corporate customers include treasury services, real estate loans, ship finance, and general commercial banking. These services cater to the needs of larger companies.

In addition to its corporate services, the bank also offers retail banking services, including personal loans, mortgages, credit cards, and fixed deposit accounts. The bank's retail offering has been available since January 2006.

The bank's range of services is quite extensive, and can be seen in the following list of products and services offered by the NBF:

The bank's assets have grown significantly over the years, with a notable increase between 2005 and 2007.

The National Bank of Fujairah offers a range of accounts and deposit options to suit your needs.

You can opt for the NBF Classic Current Account, which provides unrestricted access to value-added banking services and amenities, including all major currencies supported and complimentary international debit cards.

The NBF Classic Current Account also offers a standing instructions facility, remittance, and the option to avail of an overdraft. You can make free ATM withdrawals and receive free account statements every month.

On a similar theme: Bank Brokerage Account

The NBF Fixed Deposit Account, on the other hand, allows you to earn competitive interest rates and flexible maturity dates. You can also take advantage of the automatic deposit renewal roll-over facility.

Here's a summary of the benefits of each account:

The Classic Current Account is a great option for those who want flexibility and convenience in their banking.

You can access all major currencies with this account, making it perfect for international transactions or travel.

A standing instructions facility is also available, allowing you to set up automatic payments or transfers.

Remittances are provided, making it easy to send money to others.

You can even opt for an overdraft, giving you a safety net in case of unexpected expenses.

One of the perks of this account is free ATM withdrawals, so you can access your cash without incurring extra fees.

Free account statements are delivered every month, keeping you up to date on your finances.

A complimentary international debit card is included, making it easy to make purchases or withdraw cash while abroad.

You can access your account through multiple channels, including online banking, mobile banking, or in-person at a branch.

For your interest: Joint Bank Account

If you're looking to save your money, you have a few options with NBF. The Savings Basic Account is a great choice if you need easy access to your funds, with 24-hour access to your assets. This account is ideal for UAE residents and expatriates alike.

Major currencies are supported on this account, so you can use it no matter where you're from. You can also set up standing instructions to make regular payments. Remittance is provided, and you can even get an overdraft if you need it.

One of the best things about this account is that you get free ATM withdrawals. Your interest is credited half-yearly, so you can plan ahead. And, you'll get a complimentary NBF debit card to go with your account.

If you're looking to earn a bit more interest on your savings, the Max Saver Account might be a better fit. With this account, you can earn up to 1.75% per annum on AED and 1.25% p.a. on USD.

You can have up to two of these accounts, which is great if you have multiple sources of income. And, you can make one withdrawal per month without affecting your interest calculation.

If you're looking to earn competitive returns on your savings, you might want to consider a fixed deposit account.

One of the benefits of a fixed deposit account is that it offers competitive interest rates.

You can choose from flexible maturity dates to suit your needs.

Having an automatic deposit renewal roll-over facility means you don't have to worry about renewing your deposit when it matures.

Recommended read: Mobile Banking Check Deposit

The National Bank of Fujairah offers a range of loans and privileges to its customers.

For personal banking, the bank provides a personal loan facility that allows customers to borrow up to AED 1 million.

The bank's loan facilities are designed to meet the diverse needs of its customers.

Interest rates for personal loans start at 9.99% per annum.

The bank's loan tenor ranges from 1 to 7 years, providing customers with flexibility in repayment terms.

Personal loan applicants must be at least 21 years old and have a minimum income of AED 5,000 per month.

Broaden your view: What Is Personal Banking

The bank also offers a credit card facility with a limit of up to AED 100,000.

The credit card comes with a range of rewards and benefits, including cashback and travel insurance.

For business banking, the bank provides a range of loan facilities, including overdrafts and term loans.

The bank's business loan facilities are designed to support the growth and development of small and medium-sized enterprises.

The National Bank of Fujairah has received numerous awards and accolades that demonstrate its commitment to excellence. It's impressive to see the bank's hard work recognized by reputable organizations.

In 2019, the Gulf Employee Experience Awards honored NBF with four awards: Overall Experience Award, Employee Engagement and Happiness, Employee Insight and HR Metrics, and Best Emiratisation Initiative.

These awards showcase the bank's dedication to creating a positive work environment and fostering a culture of engagement and happiness among its employees.

NBF also received the Employee Engagement Award from the International Business Excellence Awards in 2019, highlighting its efforts in promoting a culture of engagement and motivation.

You might like: How Does Chime Bank Work

Here are some of the notable awards received by NBF in 2019:

The bank's commitment to excellence is also reflected in its recognition as the Best Corporate Bank and Best SME Bank by the Banker Middle East Industry Awards in 2019.