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Magnati sale raises UAE’s First Gulf Bank's Q1 net profit to $1.4bln
First Abu Dhabi Bank’s (FAB) net profit has more than doubled in Q1 2022, boosted by the sale of a majority stake in Magnati, its payments business. The UAE's biggest banking group made a net profit of 5.1 billion dirhams ($1.4 billion) compared with a year-ago profit of 2.5 billion…
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