Ahli United Bank named Best Private Bank in the Middle Eastby Global Finance

Press release
Published November 24th, 2015 - 10:49 GMT

Ahli United Bank has been recognised as ‘Best Private Bank in the Middle East’ by Global Finance, the leading international banking and finance publication. In addition to winning the prestigious regional title, AUB as well as its associate bank in Oman, Ahli Bank, wereannounced the country winners for Bahrain and Oman respectively, inthis inaugural annual World’s Best Private Banks Awards by the New-York based publication.  

Global Finance said the world’s topproviders of private banking and wealth management services were selected based onentry submissions, market research, input from industry analysts and executives, and other users of private banking services. 

“These awards provide an independent analysis of those firms thatoffer the deepest experience, best value and highest level of customerservice within the private banking realm,”said Joseph Giarraputo, publisher and editorial director of Global Finance. 

This award by Global Finance comes on the heels of AUB winning the "Private Bank of the Year –Bahrain”award for the second year runninginthe Global Private Banking Awards 2015, a joint ranking byThe Banker and PWM (Professional Wealth Management), two publications of the London-based Financial Times Group. 

Prakash Mohan, Group Head, AUB, said: “We are gratified to see the quality and strength of our private banking services recognized by the world’s leading and most authoritative banking and finance publications. These distinguished awardsbear testimony to our continued and successful efforts to be our clients’ trusted financial partners, providing them with world-class expertise, highly individualized service and tailor-made solutions which meettheir specific objectives and needs”.  

“Our regional footprintmeans clients can benefit fromour collective expertise, knowledge and resources across MENA markets while our well-established presence in the UK opensup a world of opportunities when it comes to managing and growing their hard earned wealth”.

These awards are the latest in a string of recognitions received by AUB earlier this year, including: “Best Local Private Bank, Bahrain -2015” by Euromoney and “Best Bank in Bahrain, 2015” for the tenth consecutive year by both Euromoney and Global Finance. 

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.

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