HH Sheikh Hazza Bin Zayed Al Nahyan & HH Sheikh Mansour Bin Zayed Al Nahyan inaugurate First Gulf Bank's headquarters In Abu Dhabi

The headquarters, situated at Khalidiya Street, is considered a new architectural landmark in the capital.

His Highness Sheikh Mansour Bin Zayed Al Nahyan, Minister of Presidential Affairs and FGB Chairman, was also present at the inauguration ceremony, which was attended by other Sheikhs, dignitaries, government officials and other bank officials.

The new building, designed with a modern architecture and interior, reflects the bank's vision of being dynamic and forward looking. This celebration also coincided with the 25th anniversary of FGB.

After the inauguration, HH Sheikh Hazza Bin Zayed Al Nahyan and the guests were taken around a tour of the headquarters' premises, which included the main branch, Treasury and Investment areas. HH Sheikh Hazza spoke to a talented group of UAE national employees, urging them to continue their contribution to the nation's economy. Currently, FGB has a 33 per cent total of UAE National Employees in its workforce.

Mr. Abdulhamid Saeed, CEO of FGB, said:

"FGB will continue its commitment towards operating as a world-class organization maximizing value to shareholders, customers, employees and the community. The bank believes that investment in its people, by developing and encouraging them, creating the right work environment and supporting them, will reflect on the organization's growth and success. This new headquarters marks a vital threshold of our expansion plans focusing on developing innovative products for our customers as well as improving and expanding our service networks."

A specially-orchestrated illuminated Aqua Show was one of the highlights at the inauguration ceremony. The show - ornamented with dancing fountains, jet fountains, water screens, laser lights, cinema effects and decoration works - left a lasting impression on its audience.

The bank has announced remarkable financial results of AED 715 million Net Profit for the first nine months of 2005, indicating a 357 per cent increase from AED156.5 million in the same period last year and 192 per cent compared to 2004 year-end financial results of AED245 million.

The bank's rating by the international credit rating agency Capital Intelligence (CI) upgraded its foreign currency long-term rating and financial strength rating to A- (single A minus) from BBB, a two notches upgrade. The foreign currency short-term rating was increased to A2, from A3. The support rating was raised to 2 from 3.

The upgrade in FGB's long-term foreign currency rating is based on the substantial capital increase which has further consolidated its position as a leading bank in the UAE.