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Sunday, November 29 - 2009

First Gulf Bank

Name First Gulf Bank
Sector Finance & Insurance - Commercial Banks
Trading ADX
RIC Code FGB.AD
Location UAE

Profile and Background

First Gulf Bank is registered in Abu Dhabi under the UAE Federal Law 8 of 1984. The bank was incorporated in 1979 as a public joint stockcompany in Ajman UAE. The bank carries on the business of commercialbanking and financial services through branches established in DubaiAbu Dhabi and Ajman.

The paid up capital was increased from AED 120 million in 1997(divided into 12 million shares, par value AED 10 each) to AED 360 million at end 1998 ( divided into 360 million ordinary shares par value 1 dirham each).

A stock split of 10 to 1 was applied during the capital increase. First Gulf Bank was last rated by Capital Intelligence BB+ for long term and A3 for short-term debts

Shareholding Groups

Individuals 50%
Institutions N/A
Floating N/A
Government N/A

Board Members (Listed in alphabetical order)

Stock Performance

First Gulf Bank Stock Performance

Market Information

Stock UAE Index
Last Closing AED 49 5339.64
YTD % 197.4% 81.7%
Weekly % 3.158% -0.08%
Year High AED 49 5771.11
Year Low AED 16.476 2938.78
52 Week High AED 49 5771.11
52 Week Low AED 10.25 1639.31
BETA 3.7158
Outstanding Shares 408,844,800
Market Cap AED 20,033,395,200
Market Cap in $ USD $5,454,380,789
% of UAE Market 3.40%
% of Sector 6.37%
Rank by Cap 8

Key Figures in '000 AED

2003 2002 2001
Total Assets 7,233,588 4,983,887 3,444,710
Shareholder's Equity 740,874 661,126 549,544
NIAT 120,920 80,580 61,671
Dividends 38,938 7,488 7,200

Financial Ratios

2003 2002 2001
Assets Growth 45.14% 44.68% 43.84%
Earning Growth 50.06% 30.66% 22.74%
ROaA 1.98% 1.91% 2.11%
ROaE 17.25% 13.31% 12.06%
No. Of Shares 389,376,000 374,400,000 360,000,000
EPS 0.31 0.22 0.17
EPS Growth 50.06% 30.66% 22.74%
Payout Ratio 32.201 9.293 11.675

Valuation Ratios

Trailing
PE 165.68
PB 27.04
DVPS 0.10
Div Yield 0.19%
EV 3,196,776.96
EV/Equity 4.32
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