First Gulf Bank’s Q4 profit surges 57%

Published Tuesday, January 29, 2008

By Agencies

Abu Dhabi's First Gulf Bank beat analysts' forecasts in the fourth quarter posting a 57 per cent increase in profit to Dh621 million.

Net profit in the year-earlier period was Dh394.44 million, according to earlier financial statements.

Assets at December 31 were Dh73 billion, a bank official told Reuters, declining to be identified.

Analysts' forecasts for the bank's fourth-quarter profit ranged from Dh371.85 million to Dh511.52 million, in a Reuters survey last month, with the average of eight forecasts at Dh438.2 million. (Reuters)

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