First Gulf Bank net profit Dh4.29bn in first 9 months of 2015

First Gulf Bank ( FGB ) posted Dh4.29 billion profit in the first nine months of 2015, up by four per cent compared to the same period in 2014.

The FGB recorded the net profit Dh1.42 billion in Q3 this year compared to Dh1.43 billion in Q3 last year.

Abdulhamid Saeed, Managing Director and Board Member of First Gulf Bank, said despite the growing economic challenges at the regional and global levels, the FGB has achieved good performance during the first nine months of 2015.

"We seek through our excellent financial performance to achieve stable and sustainable growth in the short and long terms alike, regardless of the challenges."

For his part, Andre Sayegh, CEO of FGB said, "We succeeded during the first nine months of 2015, in the implementation of our business plans and strategic agenda by continuing to strengthen and develop our products, services and operations at the group level.

“Continuing our focus on strengthening integration and cooperation within the group and diversify sources of income we have, contributed to the flexibility enjoyed by our business model and its ability to meet the economic challenges."