Abu Dhabi lenders First Gulf Bank (FGB) and Abu Dhabi Islamic Bank posted rises in second-quarter net profits on Wednesday, beating analysts' forecasts.
FGB, the second largest lender by market value in the United Arab Emirate
Two banks in the United Arab Emirates have signed a 900 million dirham ($245 million) loan facility to fund construction of a three-tower real estate project adjacent to Dubai's main thoroughfare.
Dubai's real estate secto
Deals from two major banks this week have reopened the Gulf debt market after an extended summer lull, and highlighted the lower yields that investors in the region are settling for as liquidity continues to far outstrip supply.
First Gulf Bank is providing a $350 million loan to one of Indonesian coking coal producers PT Asmin Koalindo Tuhup (AKT) to meet its working capital needs for exports, the UAE lender said on Sunday.
The deal with AKT, a subsidiary of Born
First Gulf Bank said on Monday it had bought back 1.53 million shares on Sunday at 9.51 dirhams ($2.59) under a share buyback scheme.
In November, the bank won approval to buy back up to 10 percent of its shares within 12 months. So far, i
Gulf Arab bank profits have emerged relatively unscathed in the third quarter despite a global financial crisis but analysts expect a bumpy ride in the final three months.
The latest banks to post results on Tuesday, National Bank of Abu D
Growing exposure to the Gulf's overheated real estate sector is a growing concern for banks like First Gulf in Abu Dhabi, where funding conditions for financial firms are set to deteriorate, HSBC said.
HSBC cut its price targets on a numbe
UAE’s First Gulf Bank has enhanced the storage and back-up of its critical data with the deployment of EMC-networked storage systems and data protection solutions.
The EMC technology will provide First Gulf Bank with enhanced performance
Wall Street Exchange Centre, a subsidiary of Emirates Post, has entered into an agreement with First Gulf Bank (FGB).
The agreement allows FGB’s customers to pay credit card bills at any of the 18 branches of Wall Street Exchange across th