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Andre Sayegh

The CEO of Abu-Dhabi based First Gulf Bank, Sayegh has an impressive list of contacts.

December 28, 2008 9:35 by



A member of the ruling family of Abu Dhabi and the national security advisor of UAE, Sheikh Hazza bin Zayed Al Nahyan is the chairman of First Gulf Bank. He was appointed to the post in 2006.

The bank has been growing; it recently reported a net profit of AED850 million for the 3rd quarter of 2008, an increase of 68 percent over the same quarter of the last year. Its net profit for the first nine months of this year was AED2.3 billion, again 68 percent higher than the same period in 2007.

In November 2008, the First Gulf Bank board decided on a share buyback program for up to 10 percent of the bank’s shares issued and traded in the market. “Due to the global financial turmoil, which has negatively affected the local shares valuation and led to the irrational trading of our shares, the board of directors has decided to step in to proactively protect our shareholders’ assets,” said Sheikh Hazza.



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2 Comments

  1. Teresita on June 17, 2009 3:00 pm

    Good day.
    I am very much hopeful that you will read my email.
    Sir I belived you have a heart & really understand our situation. I am defaulter but victims of the circumstances. To tell you frankly I live a life here in UAE in a perfect conditions until such time of the recession came up & hits me like a typhoon.

    I was a victim of Real Estate Company who is not giving sufficient salary & the worst thing is I never received salary on the last day of my stay. I received a better opportunity in one of he biggest Company here in Dubai & still waiting for the transfer but unfortunately First Gulf Bank was threatening me that that will hold the transfer & I cant never ever work here as they already given a police case. They are asking me to pay 10,000AED to released the case but how & where I can get that money wherein even my personal things I dont have even to spend. I don’t have even 1AED in my pocket.

    Sir I am trying to survived in order to pay my debts…& because I have 2 kids to raised. I have sufficient eveidence that I am paying them everytime i have money. There are also instances that I spoke with one of the agent & threatening me that they will cathed me at work and they will put me in jail. The worst thing is they are stiayng inside my office & they are forcing me to pay even if it’s not salary time. Also one of the staff I hav spoken to is not very considerate it came out to the point that I was really desperate that time I told hm what do I have to do to kill myself? He said he does’nt care just pay the amount & kill myself after paying it.

    Sir it was really difficult for me. I am not runing away of my obligations but I was a victim… Please help me find a way. I am a very descent & honest person. Please help me to live again I am rying o arrange everything step by step that’s why I am very happy when I received an offer with better salary than before but stoping me to work is totolly unfair.

    Please begging you to help me in this regard.

    Thanks & hoping you will have a time to even give attention to my letter.

    Respectfully yours,

    Teresa

    Visual Artist / Graphic Designer

     
  2. Deandrea Barufaldi on March 19, 2011 9:17 am

    Nice idea, please explain more!

     

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