8th February 2006
NBF Shares to be Split

National Bank of Fujairah (NBF) has taken a decision to split the shares in 1 to 100 ratio. Each share, which has a nominal value AED 100, would be split into 100 shares with a nominal value of AED 1 each subject to necessary approvals from relevant authorities.

The Board of Directors held a meeting on 7 th February 2006 to consider and approve the share split. The decision would be put up for shareholders' approval at the General Assembly meeting to be held sometime during the first fortnight of March 2006. Exact date of the meeting is expected to be announced in the local press.

The Bank's shares are listed in the Abu Dhabi Stock Market. Announcing the decision, H. H. Sheikh Saleh Bin Mohammed Al Sharqi, NBF Chairman, said: "NBF has taken this important decision to make the shares available to the small investors and enhance shareholders' value."

Sheikh Saleh also added that "the Bank has embarked on new initiatives to propel the Bank towards accelerated sustainable growth path. The recent re-branding of NBF with the launch of our corporate logo and the retail strategy initiatives to supplement our strong presence in the corporate sector would ensure that we meet our objectives for the medium term."