Ahli United Bank introduces new generation, chip-enabled debit cards

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About Ahli United Bank
Ahli United Bank B.S.C. is an offshore and full commercial banking institution based in Bahrain providing retail, commercial and investment banking business, global fund management and private banking services. It is geared towards growth through the development of a larger client base in the Gulf states and through its close partnerships with customers staff and product providers. The evolution of future mergers and acquisitions in the Gulf region remains central to the Bank's expansion strategy. For 2008, AUB reported a consolidated net profit of US$ 255.7 million. Total assets stood at US$ 23.6 billion as of 31 December 2008.

AUB has an effective holding of 75% share in the Bank of Kuwait and the Middle East (BKME). BKME has a 10% market share in Kuwait. BKME achieved a net profit of KD 51.4 million for the year ended 31 December 2008, an increase of 6.6% over the previous year.

AUB also has a 38 % share in Ahli Bank Q.S.C. a commercial bank in Qatar with an enhanced capital base following the 100 percent participation by AUB in its capital increase. Ahli Bank Q.S.C. achieved a 40.7% percent higher net profit of QR 425.8 million for the year ended 31 December 2008 compared to 2007. AUB has a 10-year management contract with Ahli Bank Q.S.C.

Ahli United Bank has a 50% share in the Commercial Bank of Iraq, a private commercial banking institution established in Iraq in 1992. Since its inception, Commercial Bank of Iraq has performed consistently well in different business segments and its total assets as at 31 December 2007 stood at IQD 213 billion.

Ahli United Bank, its associate banks and other Gulf financial institutions together acquired an 89.3% in Ahli United Bank (Egypt) S.A.E. (AUBE), [formerly Delta International Bank S.A.E. (DIB)], in August 2006. Established in 1978, AUBE is a commercial bank offering retail banking, corporate banking, private banking, project and trade finance, and treasury services through 24 branches across Egypt.

In December 2007, AUB acquired a 35% stake in Ahli Bank S.A.O.G. (ABO), [formerly Alliance Housing Bank S.A.O.G.], a bank specializing in residential mortgage lending through its seven branches in the Sultanate of Oman. The Bank has signed a five year renewable technical services and management agreement to provide technical and management services to ABO, and has since converted to a full fledged commercial bank extending corporate, retail, treasury and private banking services to customers in Oman.

Early this year, AUB was named "Best Bank in the Middle East 2009". In 2008, AUB was named "Best Bank in the Middle East 2008" and "Best Foreign Exchange Bank in Middle East - 2008" by Global Finance, "Best Bank in Bahrain 2008" and "Bank of the Year, Bahrain - 2008" by Euromoney and "The Banker" respectively. In 2007, AUB was named: "Best Bank in the Middle East - 2007" by both Euromoney and Global Finance and "Bank of the Year 2007 - Bahrain" by The Banker. In 2006, AUB was awarded: "Bank of the Year 2006 - Middle East" (by The Banker), "Best Bank 2006 - Middle East and Africa" (by Global Finance); "Best Foreign Exchange Bank - Middle East 2006" (Global Finance); "Best Bank and Bank of the Year 2006 - Bahrain" (Global Finance, Euromoney and The Banker).

AUB's ordinary shares are listed on Bahrain Stock Exchange (BSE) (since August 2000) and Kuwait Stock Exchange (KSE) (since 26 June 2006) and are actively traded. AUB's Class A preference shares are also listed at the BSE since 20 March 2005.

The Bank has been assigned a Long Term Issue Credit Rating of 'A-' (stable) by Standard & Poor's and Fitch, and 'A' (stable) rating by Capital Intelligence.