First Gulf Bank , (FGB), one of the leading banks in the UAE , achieved its 14th consecutive year of positive bottom line growth in 2013, with record 2013 Net Profits of AED 4.77 billion, representing a 15% increase from AED 4.15 billion in 2012. In the fourth quarter of 2013, Net Profits grew by 19% from AED 1.15 billion in Q4'2012 to an unprecedented AED 1.37 billion. Commenting on the Bank's robust performance in 2013, Abdulhamid Saeed , FGB Managing Director and Board Member, said: "FGB's outstanding results for 2013 reconfirm the solid foundation of the FGB business model year after year. Clearly, this achievement is the result of our concentrated efforts to grow a diversified stream of revenues across businesses and geographies. Our profitability is supported by a sustainable growth of quality assets and cost management. I am confident to confirm, that FGB now commands the power of even stronger future revenue generation."; All Rights Reserved - Mubasher Info
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- FDIC Accuses Big Banks of Fraud, Conspiracy
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- Vybz Kartel Convicted of Murder
- Stocks Close Lower Ahead of Crimea Vote
- FDIC Sues Big Banks Over Rate Manipulation
- Ulta Shares Look Good on Strong Q4
- Jittery Investors Dumping Russian Stocks
- U.S. Consumer Sentiment Falls in Early March
- JLo Turns the Tables in New Vid: 'I Luh Ya Papi'