Ahli United Bank: Best Regional Bank GCC 2016
Established in 2000 and with a reach now extending to Bahrain, Kuwait, Oman, UAE, Egypt, Iraq, Libya and the United Kingdom, Bahrain headquartered Ahli United Bank has become one of the region’s top financial services providers. The bank offers a full range of products and services across all segments of the business from retail and corporate banking to private banking, wealth management and bancassurance. Additionally, Ahli United Bank offers its clients access to a full range of Sharia-compliant financial services.
AUB achieved a record net profit of $537.2 million in 2015, representing an 11.3% growth over the net profit of US$ 482.5 million in 2014. The strong financial performance of the Bank is driven by AUB’s well-managed business model based on diversification and cross border flows and on the success of its selective growth initiatives to increase operating income, manage costs and mitigate risk challenges in its target markets.
Despite tighter fiscal policy and weaker private sector activity resulting in lower liquidity in the banking system and moderate regional economic growth, AUB sustained its positive core performance trend in the first nine months of 2016 as it reported a net profit of $442.1 million, an increase of 5.5% as compared to $419.2 million in YTD Sep-2015.
Since its establishment in 2000, Ahli United Bank has adopted and adhered to a strict corporate governance framework, in line with the international best practices. Its solid embrace of prudent and balanced approach to banking has enabled Ahli United Bank to drive corporate, retail and private banking growth and to achieve additional momentum through targeted acquisitions. The bank’s corporate social responsibility initiatives have been recognised, amongst others, for their contribution towards enhancing micro finance in Bahrain through its shareholding in Family Bank.
The CFI.co judging panel commends Ahli United Bank on its continued progress. After an earlier win in 2014, the judges have agreed to affirm and recognise Ahli United Bank as the winner of the 2016 Best Regional Bank GCC Award.
