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Islamic Finance Briefing - Categorized | Banking, Capital Market (Equity, Mutual Funds) more

FGB to double paid-up capital

Posted on 02 March 2012

First Gulf Bank, the second-largest bank by market capitalisation in Abu Dhabi, approved plans to double its paid-up capital through a bonus share issue, the bank said.
The bank, 67 per cent owned by Abu Dhabi, posted an 18 per cent rise in fourth-quarter profits at the end of January, driven by higher interest income and Islamic financing. It raised $500 million through a five-year Islamic bond, or sukuk, sale in January - its second sharia-compliant debt offering…………………………………………Full Article: Source

 
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