NBF establishes equipment finance unit

DUBAI: National Bank of Fujairah (NBF) on Monday launched of an equipment finance unit capable of supporting asset acquisition requirements of companies and financing arrangements of equipment manufacturers and distributors operating out of the UAE.

The new unit is part of the bank’s corporate and institutional banking division. NBF’s equipment finance team will provide tailored solutions to companies and vendors in sectors ranging from transportation and logistics to health care and manufacturing. It has already closed over Dh50 million of business deals and signed strategic alliances with a number of leading equipment distributors to support their sales and distribution efforts with structured financial offerings.