First Gulf Bank (FGB), one of the UAE’s leading financial institutions based in Abu Dhabi, is reinforcing its commitment to Emiratisation with its participation in the three-day Abu Dhabi Recruitment Show “TAWDHEEF 2007” which takes place at the Abu Dhabi National Exhibitions Company (ADNEC) from 15 – 17 May 2007.
“Emiratisation is a critical component of the bank’s recruitment strategy and considerable resources are invested in core competency training to assist young UAE nationals to develop careers within the financial sector,” said André Sayegh, CEO, FGB.
“First Gulf Bank is one of the UAE’s largest financial institutions and plays a leading role in Emiratisation through sustained efforts towards national development. We believe the private sector must actively take on responsibility for nurturing talent and we intend to spearhead a number of initiatives to lead the way,” said Sayegh.
FGB’s representatives at the Recruitment Show will advise young nationals on the opportunities within the banking sector and provide insights into the industry.
“Emiratisation is vital to the overall economic development of the country and the finance and banking industry can play an important role to this end. Emiratisation is certainly one area in which the bank believes it can truly make a difference,” said Sayegh.
“Nationals opting to join FGB at this stage in its history are joining a bank which last year achieved record net profits and has embarked on a growth strategy both locally and internationally. FGB believes its people are key to its success and invests heavily in imparting best-in-class training to its staff to enhance their knowledge, skills and overall performance.”
FGB has made considerable progress in its own Emiratisation efforts by consistently achieving the annual national recruitment ratio laid down by the Central Bank.
“We enjoy a very close relationship with universities, Higher Colleges of Technology (HCT) and other institutions to recruit the best talents. Highly competent employees give us the winning edge required to succeed in an extremely competitive environment. We, therefore, ensure that we attract, select and retain high calibre professionals, providing them with a multi-cultural work environment that values creativity and encourages them to realize their full potential and build a rewarding and satisfying career,” concluded Sayegh.
About First Gulf Bank:
First Gulf Bank (FGB) is one of the largest equity based banks in the UAE with shareholders equity at AED 9 billion at end 2006. Headquartered in Abu Dhabi, FGB was established in 1979. FGB provides financial services across the UAE with a wide distribution network of branches in different business and industrial areas. 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 of making a difference in every sector it serves, FGB provides and optimises value to its shareholders, customers, and employees. The bank's core purpose is to be a world class organisation maximising value for all stake-holders. The belief in innovation, quality, customer service, team spirit, & integrity has led the bank to tremendously expand its business operations over the last three years and thereby increase its profit returns and shareholders' earnings.
Fitch Ratings has affirmed the banks's ratings at Issuer Default 'A' with stable outlook, short-term 'F1', individual 'C' and support '1'. The individual ratings reflect FGB's sound capitalisation, growing franchise and good profitability and liquidity. FGB's results for 2006 showed an improved performance with reported net income of AED1.5billion, equating to an average return on equity of 18.3%. The bank benefits from increased opportunities in the UAE to grow its loan book and fee income.
