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FGB profits rise 8%

by ArabianBusiness.com staff writer  on Sunday, 22 April 2007

First Gulf Bank (FGB) has reported record first quarter results with a net profit of US$111m for the first three months of this year ending March 31.

The results are an 8% increase on the first three months of 2006 - reflecting growth across all the Abu Dhabi-based bank's core businesses, including corporate, treasury and investment, retail and ancillary businesses. Total operating income in the first quarter of this year reached US$153m, exceeding the first three months of 2006 by 9%.

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