FGB
FGB
FGB
First Gulf Bank (FGB), one of the leading banks in the UAE, has concluded the creation of a Negotiable Certificate of Deposit (NCD) programme, delivered by its Singapore Branch, serving as its Asia Pacific (APAC) hub.
The NCD programme, with a nominal value up to USD1 billion in multi currency denomination, will provide FGB Singapore Branch access to raise funds across a diversified base when required. This will also enable FGB to reach out to a wider range of institutional investors and allow the Bank to build on its market profile and franchise value in APAC, in line with its increased focus on this region.
The NCD was jointly arranged by FGB Singapore Branch and Standard Chartered Bank, with programme dealers being FGB Singapore Branch, Standard Chartered, ANZ Bank, BNP Paribas, Commerzbank, DBS Bank, Nomura and WestPac.
Commenting on the programme, Andre Sayegh, FGB's CEO, said: "The Singapore Branch is playing an important role in FGB's plans to expand further internationally and take advantage of the increasing trade and investment flows between Asia and the Middle East. FGB Singapore Branch acts as a hub for all of the Bank's Asia-Pacific activities, with the Hong Kong Representative Office reporting to the Singapore Branch, and complements FBG's presence in Libya, Qatar and India."
"It is playing a key role in our ongoing growth strategy and is vital to our expansion into APAC, whilst being testament to our continued commitment to enhance our product and service offerings, and develop new, successful partnerships for the good of our customers and shareholders."
As a major leading bank in the UAE, First Gulf Bank (FGB) has Shareholder Equity of AED 31.2 billion as of December 31st, 2013 making it one of the largest equity based banks in the UAE. Established in 1979 and headquartered in the UAE capital, Abu Dhabi, the Bank offers a full range of financial services to business and consumer sectors throughout an extensive network of branches across the UAE. Internationally FGB has branches in Singapore and Qatar, representative offices in India, Hong Kong, and a subsidiary in Libya.
Today, FGB is recognised as a world-class organisation committed to maximising value for shareholders, customers and employees as it focuses on delivering banking products and services that meet client needs and support the UAE's dynamic economy. In line with its commitment to excellence the Bank continues to invest significantly in people and technology to provide superior service standards. First Gulf Bank was awarded the 'Best Bank in the United Arab Emirates' and 'Best Bancassurance' titles at the Banker Middle East Industry Awards 2013. It was also ranked as the 3rd most powerful company in the UAE, 6th leading bank in Forbes' 'Top 500 in the Arab World' list and named UAE Bank of the Year 2013 by The Banker.
First Gulf Bank carries an A+ Long-Term (IDR) rating from Fitch, an A2 Long Term Deposit rating from Moody's, an A+ Long Term Foreign Currency Rating from Capital Intelligence and a AAA Long-Term Financial Institution Rating from RAM Ratings of Malaysia.
The NCD programme, with a nominal value up to USD1 billion in multi currency denomination, will provide FGB Singapore Branch access to raise funds across a diversified base when required. This will also enable FGB to reach out to a wider range of institutional investors and allow the Bank to build on its market profile and franchise value in APAC, in line with its increased focus on this region.
The NCD was jointly arranged by FGB Singapore Branch and Standard Chartered Bank, with programme dealers being FGB Singapore Branch, Standard Chartered, ANZ Bank, BNP Paribas, Commerzbank, DBS Bank, Nomura and WestPac.
Commenting on the programme, Andre Sayegh, FGB's CEO, said: "The Singapore Branch is playing an important role in FGB's plans to expand further internationally and take advantage of the increasing trade and investment flows between Asia and the Middle East. FGB Singapore Branch acts as a hub for all of the Bank's Asia-Pacific activities, with the Hong Kong Representative Office reporting to the Singapore Branch, and complements FBG's presence in Libya, Qatar and India."
"It is playing a key role in our ongoing growth strategy and is vital to our expansion into APAC, whilst being testament to our continued commitment to enhance our product and service offerings, and develop new, successful partnerships for the good of our customers and shareholders."
As a major leading bank in the UAE, First Gulf Bank (FGB) has Shareholder Equity of AED 31.2 billion as of December 31st, 2013 making it one of the largest equity based banks in the UAE. Established in 1979 and headquartered in the UAE capital, Abu Dhabi, the Bank offers a full range of financial services to business and consumer sectors throughout an extensive network of branches across the UAE. Internationally FGB has branches in Singapore and Qatar, representative offices in India, Hong Kong, and a subsidiary in Libya.
Today, FGB is recognised as a world-class organisation committed to maximising value for shareholders, customers and employees as it focuses on delivering banking products and services that meet client needs and support the UAE's dynamic economy. In line with its commitment to excellence the Bank continues to invest significantly in people and technology to provide superior service standards. First Gulf Bank was awarded the 'Best Bank in the United Arab Emirates' and 'Best Bancassurance' titles at the Banker Middle East Industry Awards 2013. It was also ranked as the 3rd most powerful company in the UAE, 6th leading bank in Forbes' 'Top 500 in the Arab World' list and named UAE Bank of the Year 2013 by The Banker.
First Gulf Bank carries an A+ Long-Term (IDR) rating from Fitch, an A2 Long Term Deposit rating from Moody's, an A+ Long Term Foreign Currency Rating from Capital Intelligence and a AAA Long-Term Financial Institution Rating from RAM Ratings of Malaysia.
Source:
Mubasher
