Thursday 31 July 2014
 
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FGB

First Gulf Bank Q1 net profit rises 27pc

First Gulf Bank (FGB), the second-largest lender by market value in the UAE, posted a 27 percent jump in first-quarter net profit on Wednesday, becoming the latest UAE bank to post strong quarterly profit growth. FGB, majority-own

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FGB acquires share capital of Dubai First

UAE-based First Gulf Bank (FGB) acquired the entire share capital of Dh601 million ($164 million) of Dubai First, under the legal guidance of Norton Rose Fulbright Abu Dhabi. Dubai First is a leading consumer finance company speci

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First Gulf Bank raises $650m from 5-year bond

UAE lender First Gulf Bank  raised $650 million from the sale of five-year Islamic bonds, or sukuk, on Tuesday, in a significantly oversubscribed deal that benefited from solid global demand for Sharia-compliant paper.  The suku

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Abu Dhabi's FGB Q2 profit up 13pc

First Gulf Bank  (FGB), UAE's second largest lender by market value, posted a 13 percent rise in second quarter net profit, beating analysts' forecasts, helped by a rise in net interest income.        &

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FGB sets up new $3.5bn sukuk programme

Abu Dhabi's First Gulf Bank (FGB) has set up a new $3.5 billion Islamic bond programme, a London Stock Exchange filing showed, paving the way for the lender's first sukuk sale. FGB, 67-percent owned by Abu Dhabi's ruling family

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First Gulf Bank ups foreign ownership limit

First Gulf Bank, the UAE's second largest lender by market value, said it is raising its foreign share ownership limit to 25 percent from 15 percent, as it seeks to attract more investors. The bank's board approved a proposal to raise the

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Mashreq, FGB ink $403m Borouge finance deal

UAE-based banks Mashreq and First Gulf Bank (FGB) have successfully co-ordinated a $403 million syndicated facility to fund the engineering, construction and procurement works of the Borouge 3 expansion project. One of the l

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Abu Dhabi's FGB delays bond issue

Abu Dhabi lender First Gulf Bank (FGB) has decided to hold off issuing a benchmark $500 million bond due to volatile market conditions, lead arrangers said. "The sale stands postponed because of volatile markets," one banker from a lead ar

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FGB finances GEM tanker

Gulf Energy Maritime (GEM), the Middle East's largest independent commercial product tanker operator, has taken delivery of Gulf Muttrah,  a 47,000 DWT oil and chemical product tanker built by Hyundai Mipo Dockyard Co Ltd (HMD). The

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First Gulf Bank issues $980m bonds

First Gulf Bank (FGB) today announced the issuance of mandatory convertible bonds worth Dh3.6 billion ($980 million) to UAE institutional strategic partners. Maturity date for the bonds is July 2011, and the interest rate to be paid t

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