The Board of Directors of Abu Dhabi-headquartered First Gulf Bank, one of the UAE’s leading financial institutions is to meet on Tuesday (January 23) to review the bank’s 2006 financial results and arrangements for its annual general meeting (AGM).
The Board will discuss the bank’s audited results for 2006 with its auditors, Ernst & Young as well as the recommended distribution of shareholder dividends, which will be put to the forthcoming AGM.
First Gulf Bank’s yearly results for 2006 are expected to reach a record high following a stellar performance in the first nine months – with net profits of AED 1.141 billion exceeding those of the whole of 2005.
First Gulf Bank is one of the UAE’s fastest-growing financial institutions and recently inaugurated three new branches – in Abu Dhabi’s industrial area of Mussafah, Bank Street in Dubai and in Manar Mall in Ras Al Khaimah.
The banks is also looking to expand its presence overseas and is planning to open a representative office in Singapore during the first quarter of this year following the recent approval of both the UAE Central Bank and the Singaporean authorities. A representative office in London is also on the agenda for later this year as the bank expands its international footprint.
First Gulf Bank recently signed an agreement with the Department of Finance of the Abu Dhabi Government to finance homes for UAE nationals in a move which underlines the bank’s commitment to expanding its client service offering.
About First Gulf Bank:
As one of the leading banks in the UAE, First Gulf Bank (FGB) has Shareholder Equity of AED 7.8 billion making it the largest equity based bank in the UAE. Headquartered in Abu Dhabi, FGB was established in 1979 providing top financial services across the UAE with a wide distribution network of branches in different business and industrial areas like Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah and Al Ain. The bank offers a variety of financial services in Corporate Banking, Treasury and Investment, and Retail Banking Services. The bank focuses on providing financial services and solutions to different target groups in the market like Private and Public institutions and retail customers.
With a philosophy to provide and optimize value to its shareholders, customers, and employees, the bank's core purpose is 'to be a world class organization maximizing value for all stake-holders'. The belief in innovation, quality, customer service, team spirit, & integrity has led the bank to tremendously expand its business operation over the last three years and financially increase its profit returns and shareholders earning.
For more information:
May Mohr, MCS/Action. Tel: +9714 367 1374. email: [email protected]
Or visit First Gulf Bank online at: wwfgb.co.ae
