The AGM approved a cash dividend of 100 per cent of the capital and 30 per cent bonus shares for the financial year ending
He added: "FGB continues to prioritise shareholders' returns in its operations, as our shareholders have played a key part in our business success by supporting us year after year. We foresee ongoing high returns moving forward, as we continue to diversify our sources of revenues by introducing new products and services and as we expand our geographic presence locally and overseas."
AndrÉ Sayegh, Chief Executive Officer of FGB, said: "2013 was a very positive year for FGB. It is a result of our solid and dynamic business model which is built on delivering a sustainable performance. Not only did we achieve outstanding profits, but we also continued to expand our operations by diversifying our sources of revenues with complementing businesses. Our acquisition of Dubai First and Aseel Finance is a clear testament to our commitment to expand our operations across new sectors, which complement our existing businesses and create more synergy. In addition, we are also growing our international presence through new rep offices and branches to better meet our clients' needs. "
The AGM also discussed and approved all the topics of the agenda, which included:
The report of the external auditors for the financial year ending 31/12/2013.
The bank balance sheet and profit and loss statement for the financial year ending 31/12/2013.
Discharge of the Board Members for their actions during 2013.
Discharge of the external auditors for their actions during 2013.
Appointment of auditors for the financial year 2014 and determining their fees.
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