Leading financial partner of choice, First Gulf Bank (FGB) was recognized by prestigious publication Forbes Middle East as the third best performing entity in the UAE in 2011. In its efforts to highlight the country’s leading organizations, Forbes Middle East included FGB in its “Top 50 Companies in the UAE 2011” list, following the bank’s exceptional results and outstanding dividend propositions.
Commenting on the recognition that the bank received, Andre’ Sayegh, CEO of FGB said: “We are pleased to have been recognized for our outstanding financial performance during the previous year and to be categorized as one of the leading entities in the UAE. The “Top 50 companies in the UAE 2011” list reflects the leaders in the nation’s markets, and our strong business fundamentals and commitment to shareholder have allowed us to maintain our solid standing.”
“Our latest financial results of AED 3,707 million for the year 2011 reflect our sound principles and the growth that FGB has witnessed amongst its different operations and divisions. The Forbes Middle East list is one of the many notable honors and awards we have received this year,” Sayegh added.
FGB was recognized among the top-performing organizations in the country during an exclusive event held in Dubai. The ceremony featured top executives and leaders from prominent entities in the country, and celebrated the achievements of the UAE’s major companies and their important role in supporting the nation’s economy.
FGB was also recently recognized by the Islamic Finance news (IFN) awards committee for its role as co-arranger of an AED 250 million syndication deal issued by Abu Dhabi Islamic Bank (ADIB) and a syndicate of other banks. The deal, which received the “Syndication Deal of the Year” award, was granted to the Emirates National Factory for Plastic Industries LLC, based in Sharjah. It was structured as a syndicated master sale and ijara-back facility, and was used to expand the company’s production facilities.