Financial and Banking News


Ajwan's FGB Reports 49.8% Increase in Profits

The Ajman-based First Gulf Bank (FGB) has reported a 49.8Z increase in net profits to Dh16.623mn ($4.53mn) in 1986 from Dh11,099mn ($3.02mn) in 1985, while total assets fell ($50.1mn) in 1985 while deposits fell to Dh311.10mn ($84.8mn) from Dh333.40mn ($90.8mn) in 1985. The bank's paid-up capital remained unchanged at Dhll9.73mn ($32.6mn) during the two-year period.