Arab Today, arab today first gulf bank\s sukuk issue oversubscribed
Last Updated : GMT 22:28:13
Arab Today, arab today
Arab Today, arab today

First Gulf Bank\'s sukuk issue oversubscribed

Arab Today, arab today

Arab Today, arab today First Gulf Bank\'s sukuk issue oversubscribed

Abu Dhabi - Arabstoday

Abu Dhabi-based First Gulf Bank (FGB) said Wednesday it has issued a five-year, $650 million (Dh2.387 billion) Sukuk to expand its Islamic operations. \"Bond subscriptions exceeded $3.8 billion, around six times oversubscribed. [The] five-year Sukuk [is] listed in London at fixed profit rate of 3.797 per cent. Proceeds will be utilised for Islamic general corporate purposes and to grow the bank\'s Islamic loan book,\" FGB said in a statement. The FGB Sukuk roadshow started on July 21 and invited fixed income investors from the UAE, Asia and Europe to participate. The book building exercise and the roadshow were closed on July 26. Commenting on the development, Andre Sayegh, FGB\'s chief executive officer said : \"As our focus is on providing sustainable returns to our shareholders through maintaining strong business fundamentals, the Sukuk will diversify our sources and maturities of funding, and expand our Islamic operations. Article continues below We have received a massive endorsement from global investors and this will give us a firmer foothold for the future. The overwhelming response we have received, clearly demonstrates the confidence that global investors have in the UAE economy in general and in FGB as a bank in particular.\" FGB posted a net profit of Dh890 million in the fiscal second quarter this year, a 13 per cent increase on the year. \"Increasing the Islamic financing portfolio would enable FGB to increase their overall loan book. As their Islamic financing portfolio increases, it would allow them to increase their market share in Islamic banking,\" Shabbir Malek, a banking analyst at EFG-Hermes told Gulf News. FGB\'s shares on the Abu Dhabi Securities Exchange closed yesterday 0.59 per cent lower at Dh16.90.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today first gulf bank\s sukuk issue oversubscribed Arab Today, arab today first gulf bank\s sukuk issue oversubscribed

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today first gulf bank\s sukuk issue oversubscribed Arab Today, arab today first gulf bank\s sukuk issue oversubscribed

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday