ONLY webinars - visit ONLY webinars - visit
Advanced Search
Home / News / Company News
Company News

Backed By A Strong Financial Position, First Gulf Bank Repays AED 4.5 Billion To MoF
(4 March 2013)


First Gulf Bank (FGB), the major leading UAE financial institution, has repaid its entire debt of AED 4.5 billion to the Ministry of Finance of the UAE on the back of its very strong financial position by end of 2012. Having registered strong liquidity, capital base, Tier 1 and Capital Adequacy ratios, the bank arranged for repayment to take place yesterday after having received the necessary approvals from the Ministry of Finance and the Central Bank.

Andre’ Sayegh, CEO of FGB said: “First Gulf Bank’s solid standing has enabled us to repay our loan almost four years ahead of time. We would like to thank the UAE Federal Government, the UAE Ministry of Finance and the UAE Central Bank for their continuous and strong support to the UAE economy and its banking sector over the past years. , This has definitely enabled the UAE banking sector to prosper during challenging times. The government’s timely and supportive decision allowed the UAE economy to maintain its growth at a time when the global economic scene was facing difficult times.”

We accept Guest Posts

Download the Dubai City Guide iPhone mobile app is owned and managed by Cyber Gear

advertisement info

  All fields are mandatory
Your Name
Your Comments
 Max 250 characters - Word Count :
Image Verification
Change Image


email print

News Alerts
News Alerts
Stay ahead with abu dhabi news
dcg mobile
adcg Mobile
With you wherever you go
rss feed
RSS Feeds
Get the latest
dubai blog
Abu Dhabi Blog
Your space, your voice
ADCG at a glance