First Gulf Bank (FGB), one of the UAE’s leading financial institutions based in Abu Dhabi, has initiated a 1.65% cash back guarantee service for its credit card holders who purchase with their FGB cards at petrol stations across UAE. This latest initiative strengthens FGB’s position as being a customer-centric bank with the continued development of value added products and services.
“Our customers live increasingly busy and hectic lives, and depend on the ease of using their credit cards. It’s our aim to offer them ultimate convenience and peace of mind when using their credit cards to refuel at petrol stations, and we will continue to always place our customers first.” said Girish Advani, Head Marketing Credit Cards, First Gulf Bank.
This cashback offer is provided to all FGB credit card holders and is based on the total purchase charged on a monthly basis. The refunded amount will be credited to their card accounts the following month of transaction and the monthly spend should be a minimum of Dhs 200 and a maximum of Dhs 1000. A single transaction over Dhs 250 will not be eligible.
About First Gulf Bank:
First Gulf Bank (FGB) is one of the largest equity based banks in the UAE with shareholders equity at AED 9 billion at end 2006. Headquartered in Abu Dhabi, FGB was established in 1979. FGB provides financial services across the UAE with a wide distribution network of branches in different business and industrial areas. The bank offers a variety of financial services in Corporate Banking, Treasury and Investment, and Retail Banking Services. The bank focuses on providing financial services and solutions to different target groups in the market like Private and Public institutions and retail customers.
With a philosophy of making a difference in every sector it serves, FGB provides and optimises value to its shareholders, customers, and employees. The bank's core purpose is to be a world class organisation maximising value for all stake-holders. The belief in innovation, quality, customer service, team spirit, & integrity has led the bank to tremendously expand its business operations over the last three years and thereby increase its profit returns and shareholders' earnings.
Fitch Ratings has affirmed the banks's ratings at Issuer Default 'A' with stable outlook, short-term 'F1', individual 'C' and support '1'. The individual ratings reflect FGB's sound capitalisation, growing franchise and good profitability and liquidity. FGB's results for 2006 showed an improved performance with reported net income of AED1.5billion, equating to an average return on equity of 18.3%. The bank benefits from increased opportunities in the UAE to grow its loan book and fee income.
