First Gulf Bank

First Gulf Bank was established in 1979 to provide financial services across the emirates. It oversees more than $2.72bn of shareholder equity and has grown into one of the UAE’s most established banks.

And while several banks are struggling to pay off debts as the credit crisis continues, First Gulf Bank has proven more robust than most. The Abu Dhabi bank paid off a $750m three-year syndicated loan last month, giving a “strong message of confidence” according to an EFG Hermes analyst.

Shortly after announcing the repayment, First Gulf Bank’s shares climbed 8.6 percent as fears that the bank needed government support to repay the loan were allayed. The pay-off puts First Gulf in a strong position weeks after the Abu Dhabi government injected $4.35bn into five of its banks.
More about the company
Address: First Gulf Bank Building, Al Khalidiya Street PO Box 6316 , Abu Dhabi, UAE

FGB

Joint stock

1979

Public

971 2 6816666

971 2 6813727

fgbabd@emirates.net.ae

www.fgb.ae

Related articles

UAE's new mega bank reports $3.1bn net profit in 2016

UAE's new mega bank reports $3.1bn net profit in 2016

Wednesday, 22 February 2017 2:10 PM

National Bank of Abu Dhabi and First Gulf Bank, which are set to merge on April 1, jointly report proforma results

Date set for launch of UAE's new $181bn mega bank

Date set for launch of UAE's new $181bn mega bank

Monday, 13 February 2017 9:55 PM

Merger of the National Bank of Abu Dhabi and First Gulf Bank will become official on April 1

NBAD aims to double size of debt programme to $15bn

NBAD aims to double size of debt programme to $15bn

Tuesday, 7 February 2017 9:52 AM

No reason was given for the increase or how the programme would fit into NBAD's planned merger with First Gulf Bank

NBAD, FGB finalise second-tier management ahead of merger

NBAD, FGB finalise second-tier management ahead of merger

Monday, 6 February 2017 1:58 PM

Sources say around 70 senior positions have now been filled at what the bank calls the N-2 level

More UAE bank mergers possible, says Al-Ghurair

More UAE bank mergers possible, says Al-Ghurair

Thursday, 15 December 2016 2:00 PM

UAE Banks Federation chairman Abdul Aziz Al Ghurair says banking sector is open to strategic mergers

Shareholders of Abu Dhabi's NBAD, FGB approve mega merger

Shareholders of Abu Dhabi's NBAD, FGB approve mega merger

Wednesday, 7 December 2016 5:03 PM

Tie-up will create one of the largest banks in the Middle East and Africa with assets of around $175bn

UAE banking giant FGB sees 31% leap in Q3 net profit

UAE banking giant FGB sees 31% leap in Q3 net profit

Wednesday, 26 October 2016 6:34 PM

First Gulf Bank beats estimates as it posts more than $500m in net profit for the quarter

NBAD, FGB shareholders to meet in December to approve mega-merger

NBAD, FGB shareholders to meet in December to approve mega-merger

Monday, 24 October 2016 11:16 AM

Merger of Abu Dhabi banks will create one of the largest banks in the Middle East and Africa with assets of around $175 billion

NBAD CEO Alex Thursby won't be part of merged banks' leadership

NBAD CEO Alex Thursby won't be part of merged banks' leadership

Thursday, 28 July 2016 9:41 AM

UAE bank NBAD said its expects low single-digit revenue, earnings growth in 2016

Merger of FGB and NBAD will 'create high-value opportunities', says Sheikh Mohamed bin Zayed

Merger of FGB and NBAD will 'create high-value opportunities', says Sheikh Mohamed bin Zayed

Sunday, 3 July 2016 6:02 PM

Merger of banks is one of two significant consolidation efforts currently underway in the emirate as it reacts to the lower oil price environment

Banking shares climb in Abu Dhabi on FGB-NBAD merger details

Banking shares climb in Abu Dhabi on FGB-NBAD merger details

Sunday, 3 July 2016 12:29 PM

Shares in NBAD jumped 5.6% while FGB gained 4%

National Bank of Abu Dhabi and First Gulf Bank agree to merge

National Bank of Abu Dhabi and First Gulf Bank agree to merge

Sunday, 3 July 2016 9:53 AM

Combined lender to be called National Bank of Abu Dhabi, with Abdulhamid M. Saeed named CEO-designate of bank

NBAD-FGB merger could lead to 28% cost savings, says banker

NBAD-FGB merger could lead to 28% cost savings, says banker

Wednesday, 22 June 2016 1:45 PM

National Bank of Abu Dhabi and First Gulf Bank holds talks on merger that would create the largest bank in MENA region

NBAD-FGB tie-up could trigger M&A wave in banking sector, say analysts

NBAD-FGB tie-up could trigger M&A wave in banking sector, say analysts

Monday, 20 June 2016 8:57 AM

Shares in NBAD leap 15%, FGB up 11.5%, but some doubt whether deal would profit shareholders

NBAD and FGB shares soar as banks confirm talks over possible merger

NBAD and FGB shares soar as banks confirm talks over possible merger

Sunday, 19 June 2016 10:20 AM

Banks said there is no certainty that discussions between NBAD and FGB will result in a merger or combination

More senior execs said to leave Abu Dhabi bank FGB

More senior execs said to leave Abu Dhabi bank FGB

Tuesday, 10 May 2016 8:05 PM

Sources say First Gulf Bank's most senior investment banker among those to depart

Abu Dhabi bank trio hurt by bad loans amid weak economy

Abu Dhabi bank trio hurt by bad loans amid weak economy

Thursday, 28 April 2016 9:26 AM

NBAD, ADCB and FGB all said the business environment was tough, partly reflecting the impact of a near two-year slump in oil prices on the wider economy

Abu Dhabi’s FGB denies bid for Barclays assets in Egypt

Abu Dhabi’s FGB denies bid for Barclays assets in Egypt

Thursday, 17 March 2016 9:51 AM

UAE’s third-largest lender says Bloomberg report is “untrue”

UAE's First Gulf Bank says profit can grow 6% this year

UAE's First Gulf Bank says profit can grow 6% this year

Sunday, 6 March 2016 6:54 PM

Chief executive Andre Sayegh said net interest margins will improve this year with liquidity conditions

UAE's First Gulf Bank Q4 net profit rises 11%

UAE's First Gulf Bank Q4 net profit rises 11%

Sunday, 31 January 2016 6:51 PM

FGB made a net profit of $468.4 million in the three months ending Dec. 31


Related searches

National Bank of Abu Dhabi and First Gulf Bank agree to merge

Sunday, 3 July 2016 9:53 AM

Combined lender to be called National Bank of Abu Dhabi, with Abdulhamid M. Saeed named CEO-designate of bank

UAE's First Gulf Bank says profit can grow 6% this year

Sunday, 6 March 2016 6:54 PM

Chief executive Andre Sayegh said net interest margins will improve this year with liquidity conditions

UAE's First Gulf Bank Q4 net profit rises 11%

Sunday, 31 January 2016 6:51 PM

FGB made a net profit of $468.4 million in the three months ending Dec. 31

UAE's First Gulf Bank Q2 net profit rises 8%

Sunday, 26 July 2015 6:17 PM

FGB made a net profit of $395 million for the three months to June, boosted by lending rise, dip in bad loans

UAE's First Gulf Bank reports 13% jump in Q4 net profit

Wednesday, 28 January 2015 5:30 PM

Third largest lender in the UAE beats analysts estimates by making $422m profit in three months to Dec 31

UAE's First Gulf Bank looks to Asia for expansion

Thursday, 11 December 2014 5:59 PM

Senior exec says Abu Dhabi bank is particularly looking to grow brand in North Asia, mainland China

UAE's First Gulf Bank builds investment banking business

Tuesday, 4 February 2014 5:02 PM

Lender says it is hiring investment bankers to tap pickup in companies issuing debt

UAE's First Gulf Bank posts 27% rise in Q1 net profit

Wednesday, 23 April 2014 6:40 PM

UAE banks in general have recorded impressive growth in the first quarter, continuing the trend from 2013

First Gulf Bank prices debut A$250m Kangaroo bond

Tuesday, 25 March 2014 1:17 PM

This is only the fourth Kangaroo bond from a Middle Eastern bank, and follows new issue from National Bank of Abu Dhabi

First Gulf Bank names bankers for debut Kangaroo bond

Monday, 24 March 2014 2:13 PM

Abu Dhabi bank mandates ANZ, HSBC and Nomura for first move into Aussie dollar market

UAE's First Gulf Bank expects double digit growth in 2014

Wednesday, 26 February 2014 7:35 PM

Country's second largest lender says well positioned to achieve strong performance this year

UAE's First Gulf Bank posts 13% rise in Q3 net profit

Monday, 28 October 2013 7:54 PM

Lender makes profit of $324m in third quarter, boosted by higher operating income

UAE's First Gulf Bank says no plans for Barclays bid

Wednesday, 18 September 2013 9:44 AM

UK lender is planning to sell its retail operations in the Gulf state

First Gulf Bank may bid for Barclays' UAE ops, says CEO

Monday, 16 September 2013 1:45 PM

UAE's third largest bank may make move after UK lender decides to sell retail business

UAE's First Gulf Bank posts 12% rise in Q1 profit

Monday, 29 April 2013 1:18 PM

Second largest lender in the UAE makes net profit of $285.9m in the first three months of 2013


Officers »
Board of Directors Position
Hazza Bin Zayed Al Nahyan
Chairman
Ahmed Ali Al Sayegh
Board Member
Khaldoon Khalifa Al Mubarak
Board Member
Khadem Abdullah Al Qubaisi
Board Member
Abdulhamid Mohammed Saeed
Board Member
   
Management Position
André Sayegh
Chief Executive Officer
Abdulhamid Mohammed Saeed
Managing Director
George Abraham
Head of Corporate Banking
Gopi Krishna Madhavan
Head of Human Resources
Arif Shaikh
Chief Credit & Risk Officer
View all
Major Shareholders
Name Country
HH SheikhTahnoon Bin Zayed Bin Sultan Al Nahyan
UAE
This Week's Magazine »

Cover Story

How Travis Kalanick aims to drive Uber's growth in the Gulf region
In an exclusive interview with Arabian Business, the CEO reveals how he gave 40,000 Saudis jobs, and what makes Dubai the perfect blueprint for the GCC

Also in this issue

Subscribe Now

sponsoredTracking