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AUB buys stake in Iraqi bank
- Bahrain: Saturday, September 30 - 2006 at 10:43
Bahrain's Ahli United Bank has announced that it has completed the acquisition of a 49% stake in the Commercial Bank of Iraq. Following the purchase, the capital base of the Commercial Bank of Iraq has increased to $43.7m from $9.6m. The bank, which has eight branches in Baghdad and one in Basra, had assets of $89m as of June last year.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, September 30 - 2006 at 10:43 UAE local time (GMT+4)
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This article was updated on Wed Oct 04 2006.
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