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NBF repays Dhs643m loan
- United Arab Emirates: Tuesday, April 02 - 2013 at 08:19
The National Bank of Fujairah has repaid a Dhs643m ($175m) subordinated loan to the UAE finance ministry ahead of its original maturity date of 2016, the latest local lender to return the state support it received during the financial crisis. "The repayment of NBF's subordinated debt to the Ministry of Finance in full and well in advance of its original maturity date underscores the bank's strong business fundamentals and capacity for growth. I would like to take this opportunity to thank the UAE Ministry of Finance for their leadership and support at a time of tremendous change in the financial sector, which has helped minimise the impact of the recent market crisis and pave the way for future growth," said NBF deputy chairman, Easa Saleh Al Gurg.
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