20 May 2007, Abu Dhabi, U.A.E.:  First Gulf Bank (FGB), one of the UAE's leading financial institutions based in Abu Dhabi, has launched a sleek platinum credit card with time saving benefits targeted specifically at the country's upwardly mobile segment.

"This stylish card responds to the needs of those with hectic lifestyles characterised by heavy work, travel and social commitments," said Girish Advani, Head Marketing Credit Cards, First Gulf Bank.

"The card and its benefits have been specifically tailored to provide convenience, making the lives of this expanding segment easier and more comfortable.  Our Platinum cardholders can benefit from expedited, value-added travel services at  airports around UAE, such as an E-Gate card, and complimentary use of the Marhaba and Golden Class airport lounges and free valet parking with Valtrans Valet Service in Dubai."

FGB has abandoned the traditional look of most platinum cards and adopted a sleek, minimalist design. With a desert backdrop, the card is available in both black and pearl white, the first in the region. The limit on the card is given at a customer level and is not divided into the number of cards the customer holds. FGB provides supplementary cards for free as well as ensuring the holder can effortlessly remain in style.

Issued in Visa and MasterCard versions, FGB's Platinum Cards are globally accepted at over 28 million establishments in 210 countries. 

For the world traveller who also plays golf, FGB exclusively offers the 'Golf Fee Card' when issuing its Platinum Credit Card.  The 'Golf Fee Card' gives users up to 50% discount at over 2,300 golf resorts and luxury hotels in 112 countries.

For the first time in the UAE, customers will be able to pay their Etisalat bills as an automatic payment every month irrespective of their travel plans, via their Platinum card. All the customer needs to do is to provide FGB with the dates he needs to pay his bills on, and the bank will take care of bills payment every month, for the rest of the year. For additional security, the customer can give a maximum billed amount per account and receive a confirmation SMS after the transaction is done. In addition, customers can send money anywhere in the world free of cost with the help of their FGB Platinum Credit Card.

In order to ease activation of cards and bill payments, customers will now be able to send an SMS and get their card activated or know their amount due along with their payment dates instantly any time. The existing benefits of First Rewards, Easy Insure, Quick Cash from our existing cards will be made available to our Platinum Card holders as well.

As an introductory Platinum Cardholder benefit, customers will receive a gift voucher  worth AED 550 upon payment of the first bill which can be used at over 230 Apparel Group Stores across the UAE including Bally, Tommy Hilfiger, Kenneth Kole, Aldo, Nine West  and many more.

The cardholders can also transfer their balances from other credit cards to the FGB Platinum Card at a competitive rate while earning up to another AED550 in vouchers.

The Platinum Card is the latest offering in a series of niche credit cards from FGB, which include the 'Ladies Card' - created to give women more financial freedom and utilise a unique range of value-added benefits, discounts and offers across a selection of the UAE's premier stores - and the 'Makkah Card', the region's first unsecured, Shariah compliant credit card which earns the holder 'Steps' towards a trip to Makkah. 

"FGB's Platinum Card firmly establishes the bank as a leader in innovation, catering to the specific needs of niche markets.  By recognising what our customers require, FGB continues to develop products that 'make a difference' in their lives," said Advani.

Applications for FGB's new Platinum Credit Card are accepted at any of its 14 branches Emirates-wide or by calling 800-5433 toll free.  

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About First Gulf (www.fgb.ae)
First Gulf Bank (FGB) is one of the largest equity based banks in the UAE with shareholder equity at AED 9 billion at end 2006. Headquartered in Abu Dhabi, FGB was established in 1979. FGB provides financial services across the UAE with a wide distribution network of branches in different business and industrial areas. The bank offers a variety of financial services in Corporate Banking, Treasury and Investment, and Retail Banking Services. The bank focuses on providing financial services and solutions to different target groups in the market like private and public institutions and retail customers.

With a philosophy of making a difference in every sector it serves, FGB provides and optimises value to its shareholders, customers, and employees. The bank's core purpose is to be a world class organisation maximising value for all stakeholders. Its belief in innovation, quality, customer service, team spirit and integrity has led the bank to tremendously expand its business operations over the last three years, increasing its profits and shareholders' earnings.

Fitch Ratings has affirmed the bank's ratings at Issuer Default 'A' with stable outlook, short-term 'F1', individual 'C' and support '1'. The individual ratings reflect FGB's sound capitalisation, growing franchise and good profitability and liquidity. FGB's results for 2006 showed an improved performance with reported net income of AED1.5billion, equating to an average return on equity of 18.3%. The bank benefits from increased opportunities in the UAE to grow its loan book and fee income. 

For more information:
May Mohr,
MCS/Action.
Tel: +971 4 367 1374
Email: may.m@actionprgroup.com

© Press Release 2007