Ahli United Bank

Ahli United Bank BSC acquired a 49% stake in the Commercial Bank of Iraq in December 2005. The Commercial Bank of Iraq was incorporated in 1992 and is today one of the largest private banks in Iraq. The Bank offers a complete range of commercial banking products and services to retail and corporate banking customers.

Based in Baghdad, Commercial Bank of Iraq has 10 branches - 9 in Baghdad and one in Basra. Its main branch and headquarters are located in Al-Sadoon Street, Baghdad.
 

Commercial Bank of Iraq PSC
Al-Sadoon Street,
Baghdad,
Iraq

Tel: (+964) 1 7405583
Fax: (+964) 1 7184312

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.

The Group’s ratings have also been re-affirmed during Q3/08 at “A-“ with stable outlook by both Standard & Poor’s and Fitch and “A “with stable outlook by Capital Intelligence.

AUB’s performance continued to be recognised by the international financial industry during the year when it secured “Best Bank in Bahrain” Awards from Euromoney and “Best Bank in the Middle East” award from Global Finance. It was also the first ever recipient of AsiaMoney’s ‘Best Commercial Bank in Bahrain’ award during the year. Global Finance accorded AUB the ‘Best Foreign Exchange Bank in the Middle East 2008’ award.
 

URL: http://www.ahliunited.com.kw/

Information about the Currency: Iraq Dinars

List of World Wide Banking Directory

List of banks in Iraq