ABU DHABI — Abu Dhabi’s First Gulf Bank (FGB) earned record net profits of Dh4.154 billion for 2012, an increase of 12 per cent year-on-year, due to higher revenues in the last quarter of the year.
In the fourth quarter net profit was Dh1.149 billion, an increase of 12 per cent year-on-year and nine per cent higher than the Q3.
Abu Dhabi’s lender showed double-digit growth in revenues of 12 per cent to Dh7.2 billion in the year, while its assets expanded more than 11 per cent to Dh175.03 billion, customers deposit also rose strongly 15 per cent to Dh114.64 billion.
Interestingly, the growth in loans and advances was much stronger when compared with other financial institutions at nine per cent to Dh114.644 in the year. Andre’ Sayegh, CEO of First Gulf Bank, attributed his performance to “the solid foundation” of the bank.
http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/January/uaebusiness_January443.xml§ion=uaebusiness
In the fourth quarter net profit was Dh1.149 billion, an increase of 12 per cent year-on-year and nine per cent higher than the Q3.
Abu Dhabi’s lender showed double-digit growth in revenues of 12 per cent to Dh7.2 billion in the year, while its assets expanded more than 11 per cent to Dh175.03 billion, customers deposit also rose strongly 15 per cent to Dh114.64 billion.
Interestingly, the growth in loans and advances was much stronger when compared with other financial institutions at nine per cent to Dh114.644 in the year. Andre’ Sayegh, CEO of First Gulf Bank, attributed his performance to “the solid foundation” of the bank.
http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/January/uaebusiness_January443.xml§ion=uaebusiness
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