The ratings of FGB
's programmes, notes and the trust certificate issuance of FGB
Sukuk Company Ltd have been upgraded to 'AA-' as they were assumed by NBAD after the merger and are now NBAD's liabilities, ranking pari passu with NBAD's senior unsecured debt.
NBAD, as the surviving corporate entity and the legal successor of FGB
, has automatically assumed all assets and liabilities of FGB
with effect from the Effective Date.
is grateful for all customer feedback to which we give careful consideration as we strive to consistently deliver the highest standards of service.
Huda Abdulla Mohammed, Head of the Emirati Segment in FGB
, commented: "I am delighted to launch the February Index and to be a part of this important initiative for FGB
Following approval from each bank's shareholders to proceed with the creation of the UAE's largest bank, a 30-day creditor objection period was triggered by FGB
and NBAD on 12 December 2016, concluding on 11 January 2017.
The proposed transaction will be structured as a merger of equals and will be executed through a share swap, with FGB
shareholders receiving 1.
Following the issue of the new NBAD shares, FGB
shareholders will own approximately 52 percent of the combined bank and NBAD shareholders will own approximately 48 percent.
Girish Advani, head of Personal Banking, FGB
, said: "As part of FGB
's commitment to provide the best innovative products and services to our customers, it is a privilege to collaborate with LBC Express to offer an accessible payment scheme for cargo services for all UAE residents," said FGB
Head of Personal Banking Girish Advani.
credit-card customers can now redeem their earned reward points against LBC discount vouchers as part of the FGB
Under the programme, FGB
may issue ECPs up to a maximum aggregate amount
, the largest lender by market capitalisation, showed a 10 per cent year-on-year growth in revenues to Dh9.
Michael worked at Societe Generale's head office in Paris as head of mergers and acquisitions for the Middle East and Africa (MEA) region from 2006 to 2011 and joins FGB
from the National Bank of Abu Dhabi (NBAD), where he held the role of head of corporate finance advisory from 2012 to 2014, it said.