An exceptional year saved by the Other Income…
FGB, one of the leading banks in the UAE, released its Q4 2015 figures. The bank continued to maintain its strong position in the UAE’s banking sector, and recorded a net profit at AED1.72bn, 10.8% higher than Q4 2014. For the whole year, the net income rose by 6.2%, reaching AED6.006bn. This was mainly due to the increase in: the Net Banking Income, by 0.32% to AED8.130bn (presenting 86.2% of the total operating revenues), and Other Income, by 51.3% to AED1.304bn.
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