December 2010

AHLI UNITED BANK AWARDED ‘BEST FOREIGN EXCHANGE BANK IN THE MIDDLE EAST’ FOR THE FIFTH CONSECUTIVE YEAR

Ahli United Bank B.S.C. (AUB) has been selected ‘Best Foreign Exchange Bank in the Middle East 2011’ by New York based Global Finance magazine, one of the world’s leading financial publications. This is the fifth consecutive year that AUB has been recognized as the best performing foreign exchange bank across the Middle East, an achievement that no other bank has accomplished so far.

Together with the regional award for the Middle East, AUB was also named the “Best Foreign Exchange Bank in Bahrain”.

“We are delighted to once again be recognized as the top foreign exchange bank in the Middle East by a journal as reputed as Global Finance. This is a testament to the excellence and expertise of our team as well as to our consistent ability in meeting our customer’s requirements year-on-year through different market conditions”, said Fahad Al Rajaan, Chairman, Ahli United Bank.

“Over the years we have continued to grow our FX volumes through leveraging on our regional network across the Middle East and our strong local presence in each of the markets we operate in.”, added Mr. Al-Rajaan.

“Sovereign debt problems in Europe, China’s monetary tightening and the Federal Reserve’s quantitative easing are causing volatility in the foreign exchange markets. Corporations around the world need to select a strong, knowledgeable FX bank to help them cope with the turbulence in the markets,” said Joseph D. Giarraputo, publisher and president of Global Finance.

A panel of Global Finance editors selects the award winners after assessing input from industry analysts, corporate executives and technology experts. The Global Finance awards panel assesses banks against specific criteria which include: transaction volume, market share, scope of regional coverage, customer service, competitive pricing and innovative technology.

AUB NAMED ‘BANK OF THE YEAR- BAHRAIN, 2010’ FOR FIFTH CONSECUTIVE YEAR BY THE BANKER

Ahli United Bank B.S.C. (AUB) has been awarded ‘Bank of the Year – Bahrain’ for 2010 by the influential magazine, The Banker. This is the fifth consecutive year that AUB has been selected as Bahrain’s top bank by the magazine, a publication of the UK’s Financial Times Group.

In a statement announcing the award, the editors of The Banker said: “This year’s awards were once again hotly contested by the world’s leading financial institutions. The recognition of being named ‘Bank of the Year 2010’ in Bahrain is testament to the strong management and prudent risk approach that AUB has made this year”.

“The Bank of the Year award reflects the best overall performance made by AUB over the course of the year, incorporating performance criteria, qualitative achievements and strategic initiatives”, the statement added.

Fahad Al-Rajaan, Chairman, AUB, commented: “Being recognized as the Bank of the Year for Bahrain by one of the world’s premier banking publications for five consecutive years is a remarkable achievement and a worthy tribute to the efforts by all our staff towards achieving excellence and meeting customers’ needs. This award is a clear recognition of AUB’s leading market position and success in achieving growth and expanding regional presence while reducing risk and delivering real value to our shareholders and business partners”.

This latest award joins a string of accolades AUB has won this year, including ‘Best Bank in Bahrain 2010’ from Global Finance and Euromoney, ‘Best Private Bank in Bahrain 2010’ from Euromoney as well as the ‘Elite Quality Recognition Award’ from JP Morgan Chase, the leading global financial services firm.

The soundness of AUB’s strategies and management policies were also recognized by international ratings agencies as the Bank’s Long Term Issue Credit Rating was reaffirmed at ‘A-‘ (stable) by Fitch, following affirmation of the Bank’s long term credit risk rating at ‘A-‘ (stable) by Standard and Poor’s Rating Service and at ‘A’ (stable) by Capital Intelligence.