Business | Banking

NBF opens branch in Fujairah's Tawain area

National Bank of Fujairah (NBF) has opened a new branch in the Tawain area of Fujairah.

  • Staff Report
  • Published: 23:39 May 16, 2008
  • Gulf News

Dubai: National Bank of Fujairah (NBF) has opened a new branch in the Tawain area of Fujairah.

The bank said the branch is part of its strategy to consolidate its brand presence in key local markets.

Shaikh Saleh Bin Mohammad Al Sharqi, chairman of NBF, opened the branch. It has increased NBF's network to 12 branches, five of which are in Fujairah.

"Although maritime revenue is key to the local economy, Fujairah is diversifying with exciting infrastructure plans to support the fledgling travel and tourism trade, the new freehold developments and further expansion in the free trade zone," Shaikh Saleh said.

NBF started operations in 1984. It is 39 per cent held by the Fujairah Government and 10 per cent by Dubai.

NBF, listed on the Abu Dhabi Securities Market, is widening its product range by expanding its retail banking services while buildings its corporate banking businesses.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Iconic malls
In pictures

Iconic malls

Ten shopping centres in Dubai that have made their mark

Business Editor's choice
  • Mess
    Cooking up a financial mess

    Lehman Brother's process of hiding assets by shifting them off the balance sheet, codenamed Repo 105, is a stark example of how accountants and company managers exploit the grey areas in financial regulation to fool investors

  • Kazakhstan
    A Kazakh remedy for Greece

    A default with an orderly restructuring would place part of the costs of its debt on creditors while setting euro zone finances on a sustainable path

  • Bright outlook
    Asian stocks gain for fourth week

    Rally fuelled by Fed decision to keep rates low and expanded Bank of Japan loan programme