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 banks in Iraq
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