AUB named ‘Best Regional Bank, GCC 2014’ by Capital Finance International

Press release

Published December 22nd, 2014 - 09:07 GMT

Mr. Fahad Al Raja’an, Chairman, Ahli United Bank

Ahli United Bank B.S.C. (AUB) has been named ‘Best Regional Bank – GCC 2014’ by Capital Financial International. This is the first time AUB has won this prestigious award from the London based journal.

The CFI.co award programmes identify individuals and organizations that truly add value to the industry. It seeks to find best practices in various industries including banking.

Commenting on this occasion, Mr. Fahad Al Raja’an, Chairman, Ahli United Bank, said: “This award rounds off a very successful 2014 and is a firm endorsement of our track record at AUB. We are delighted to receive this award for the very first time by one of the most established and recognized international banking publications and aspire to more achievements in 2015.”

“At AUB, we pride ourselves in creating a truly regional footprint while delivering solid value to shareholders and customers alike under a disciplined risk management culture. This has been the cornerstone of our success over the years and a mainstay of our position as one of the most trusted and fastest growing financial services providers across the GCC,” concluded Mr. Al Raja’an.

This latest award joins a string of regional accolades awarded to AUB. AUB has received recognition Best Bank in the Middle East from The Banker, Global Finance and Euromoney several times over the past decade.

Background Information

Ahli United Bank

Ahli United Bank BSC (AUB) is a full fledged commercial and investment banking group providing wealth management, retail, corporate, treasury, offshore and private banking services.

The Group's businesses consist of the operations in Bahrain, a wholly owned subsidiary in the UK and associates in Kuwait, Qatar, Oman, Egypt and Iraq. In Kuwait, AUB has an effective holding of 75% in the Bank of Kuwait and The Middle East while in Qatar, AUB has a 40% stake in Ahli Bank QSC. In Oman, AUB has a 35% stake in Ahli Bank SAOG while in Iraq AUB has a 49% stake in the Commercial Bank of Iraq. In Egypt, AUB, its associate banks and other Gulf financial institutions together hold an 89.3% stake in Ahli United Bank SAE. Apart from these banks, AUB has a nominal stake of 75% in KMEFIC, a brokerage, asset management and corporate finance company based in Kuwait with operations around the Arabian Gulf.

Overall, the AUB Group, through its subsidiaries and associates, operates through a network of 93 branch offices and employs over 3,000 people.

AUB’s stated mission is to create an unrivalled ability to meet customer needs, provide fulfillment and development for staff and to deliver outstanding shareholder value. AUB’s strategy is to expand through both organic growth and acquisition in order to act as a ‘multifaceted financial bridge’ between the international financial markets and its Gulf clients. It has sought to establish an operating presence in each of the Pan-GCC countries with a targeted 10% - 20% market share. To this end, AUB continues to develop and invest to increase its ability to acquire new businesses and rapidly integrate them with the bank’s systems. This development has helped accelerate progress in the delivery of financial services and penetration into targeted geographical markets.