ABU DHABI Feb 26 First Gulf Bank, the
second-largest lender in the United Arab Emirates, expects
profit and revenue growth in the low double digits in 2014,
chief executive Andre Sayegh said on Wednesday.
"We see a lot of growth - low double-digit growth is
sustainable in assets, loans, deposits, revenues and profits. We
are well-positioned to achieve that," he told reporters after
the bank's annual general meeting.
He also said FGB aimed to reach 18 percent return on equity
in the medium term. The ratio was 15.7 percent last year,
according to Thomson Reuters data.
FGB, majority-owned by Abu Dhabi's ruling family, made a net
profit of 1.37 billion dirhams ($373 million) for the three
months ended Dec. 31, up 19 percent from a year earlier.
(Reporting by Stanley Carvalho, Writing by Andrew Torchia)