First Gulf Bank profit up 8pct at Dh3.7b
1/31/2012 12:50:00 PM
DUBAI: First Gulf Bank, or FGB, on Monday declared an eight per cent increase in its net profit that reached Dh3.7 billion for 2011 and also recommended a 100 per cent cash dividend for its shareholders.
The bank’s net profit for the fourth quarter amounted to Dh1.02 billion, 18 per cent higher than same quarter of 2010 at Dh865 million, and 11 per cent higher than the third quarter of 2011. FGB has achieved consistent growth in net profit for the sixth consecutive quarter.
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