Essays on First Gulf Bank - Total Quality Management System Case Study

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The paper “ First Gulf Bank – Total Quality Management   System” is a persuasive example of the case study on finance & accounting. First Gulf Bank (2008) states: First Gulf Bank is registered in Abu Dhabi under the UAE Federal Law 8 of 1984. It was incorporated in 1979 as a public joint-stock company headquartered in Ajman Abu Dhabi, UAE. It is one of the largest equity based banks in the UAE with shareholder equity at AED 9 billion at end 2006. It provides financial services such as Corporate Banking, Treasury and Investment, and Retail Banking Services across the UAE with a wide distribution network of branches in different business and industrial areas. Fitch Ratings has affirmed the bank's ratings at Issuer Default 'A' with a stable outlook, short-term 'F1', Individual 'C', and Support '1'.

The individual ratings reflect FGB's sound capitalization, growing franchise, and good profitability and liquidity. In 2006 performance was improved 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.

First Gulf Bank (FGB) has been named the ‘ Best Commercial Bank in the UAE’ by Asiamoney magazine (first’ s gulf bank platinum credit card enhanced, 2008). 1.1. VisionFirst Gulf Bank vision is “ to be a world-class organization maximizing value for all stake holders. ” Their focus is to ensure that they consistently deliver world-class service to their customers, every single time. 1.2. MissionThe mission of the shareholders is to establish FGB as a major player in the banking community in the UAE through: innovation, quality, customer service, team spirit and integrity. Pursuit of Innovation - First Gulf Bank continuously pursues innovation in the quest to deliver betterproducts and services.

It encourages new ideas to spur change and exceed customer expectations.   (Quality) Passion to Excel - First Gulf Bank is driven by a passion to excel in all it does with the ultimate aimof being truly a world-class organisation with an unwavering commitment to global service standards.   (Customer Service) People Focused - In line with its belief that people drive excellence and make the difference, FirstGulf Bank creates opportunities to challenge its work force and empower it to grow and become world-class.  

References

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ten UAE nationals”. AME Info. June 28, 2008. 30 November 2008

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of a lifetime”. AME Info. July 13, 2008. 30 November 2008

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“Siraj – Islamic Banking”. First Gulf Bank. June 28, 2008. 01 December 2008

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September 13, 200. 30 November 2008

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