First Gulf Bank to raise capital to Dh1 billion

ABU DHABI — The Board of Directors of First Gulf Bank chaired by Shaikh Mansoor bin Zayed Al Nahyan will recommend to more than double the capital of the bank raising it to One Billion dirhams. It was decided to call for an Extraordinary General Meeting scheduled on Tuesday 21 of June 2005 to discuss the Board's recommendation to increase the bank's Capital and details on capital restructuring.

Shaikh Mansoor, Chairman of the Board said," First Gulf Bank has made remarkable growth and achievements over the last five years. The bank succeeded in recording high net profit, introducing new diversified and improved financial services.

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