Ahli United Bank B.S.C. (“AUB” or the “Bank”) was established as a bank in Bahrain on 31 May 2000 following a merger between The United Bank of Kuwait PLC (“UBK”) and Al-Ahli Commercial Bank B.S.C. (“ACB”) pursuant to which UBK and ACB each became wholly owned subsidiaries of AUB. The Bank operates under a retail banking license issued by the Central Bank of Bahrain (“CBB”).
In addition to wholly owned operations of AUB (Bahrain), AUB (United Kingdom) and AUB (DIFC, UAE), AUB has an 85.5% stake in AUB (Egypt), a 74.9% stake in AUB (Kuwait), a 75.0% stake in Commercial Bank of Iraq, a 40% stake in United Bank of Commerce & Investment (Libya) and a 35% stake in Ahli Bank (Oman). AUB also has a 100% stake in Al Hilal Life which provides life and health insurance products.
AUB and its network of subsidiaries and associated companies form a banking group (“AUB Group”) providing (i) retail banking; (ii) corporate banking, (iii) treasury and investment services; (iv) private banking and wealth management services; and (v) Islamic banking products & services besides offering conventional and Takaful life insurance products.
The Bank is continuously assessing and seeking to expand in the GCC and to acquire complementary banking platforms in identified secondary markets in the Middle East and North Africa (“MENA”) region in order to act as a preferred regional and international intermediary for its clients. AUB Group’s diverse geographical footprint provides a conduit to tapping cross border business and investment flows within the MENA region. The AUB Group’s presence in the United Kingdom services the need of its Gulf clients in UK.