Ahli United Bank: Best Global Network Bank GCC 2022
Ahli United Bank B.S.C. (AUB) boasts an extensive network of 157 branches in eight countries. The group is headquartered in Bahrain with a well-established presence in Kuwait, the UAE, Oman, Iraq, Egypt, Libya and the UK. Performance figures for AUB point to an excellent recovery from Covid-caused challenges,. AUB reported a net profit attributable to its equity shareholders of $340.9m and a return of average equity of 15.3 percent for the six-month period ending on June 30, 2022. Bank leadership believes that AUB’s strong performance underscores its resilience and ability to deliver sustainable core earnings on a consistent basis — despite volatile market conditions. The bank cites its multi-market investments, robust risk management, cost control measures and cross-border business flows as the secret to its success. AUB recently concluded an agreement with Citibank to acquire its consumer banking business in Bahrain which will further enhance AUB shareholders’ value. AUB is currently in the process of a transaction with Kuwait Finance House through a share-swap deal which is expected to be completed by October of this year. The deal will see the combined entity’s global assets rise to more than $115bn, positioning it as one of the largest Islamic banks in the World. The CFI.co judging panel presents Ahli United Bank — a repeat programme winner — with the 2022 award for Best Global Network Bank (GCC).
