First Gulf Bank Q4 profit up 27%

Abu Dhabi-based lender, First Gulf Bank (FGB) has said its Q4 net profit rose 27% to Dhs855m compared to a year earlier. Net profit for the full year stood at Dhs3.3bn, up 10% from of 2008. Seventy-five percent of the full year net profit was contributed by the group's core banking businesses including retail, corporate, treasury, investments and Islamic finance. The remaining 25% was contributed by the subsidiaries and associate companies of the group, FGB said in a statement.