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BANKING

Bahrain Best Bank: Ahli United Bank

Bahrain I Egypt I Iran I Israel I Jordan I Kuwait I Lebanon I Morocco I Oman I Qatar I Saudi Arabia I United Arab Emirates I Lifetime Achievement Despite tough competition from Gulf International Bank, Ahli United Bank took the best bank award because of its bold and pioneering strategy to create a bank with a strong regional presence through mergers and acquisitions.

Today the banking group offers the full range of financial services, including retail, corporate, treasury, investment and private banking across the Gulf.

In the past year it has built on significant stakes in banks in Qatar and Iran by increasing its holding in Kuwait bank BKME to 75% and acquiring a 49% stake in Commercial Bank of Iraq through a capital increase.

It also undertook a successful $450 million partly convertible preference share issue and issued a $100 million FRN, as well as launching a diversified family of funds.

Even though it has been involved in these major developments and expansion, AUB was able to increase its capital by 54.8%.

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