Ahli United Bank (Arabic ：البنك الأهلي المتحد） is a regional bank headquartered in Bahrain. With its headquarters in Manama, it is the largest bank in Bahrain. It has a presence in 8 countries in the Middle East and the United Kingdom. Ahli United Bank's common shares have been listed on the Bahrain Stock Exchange since August 2000 and on the Kuwait Stock Exchange since June 2006.

History

Ahli United Bank was established in May 2000 by the merger of Kuwait United Bank and Ahli Commercial Bank, with a retail banking license issued by the Central Bank of Bahrain. After the merger, both companies became wholly owned subsidiaries of Ahli United Bank.

Kuwait Finance House began discussions on a possible merger with Ahli United Bank in July 2017. However, due to the COVID-19 pandemic, the Central Bank of Kuwait requested a reassessment in March 2020 and the deal encountered delays. In 2022, Kuwait Finance House completed its acquisition of Ahli United Bank for $11.60 billion. The acquisition created a lender with approximately $121 billion in assets.

Operations

The AUB (Ahli United Bank) Group offers retail banking, corporate banking, treasury and investment services, private banking and wealth management services, and Islamic banking products and services. In addition, the Group also offers life insurance products for traditional insurance and Islamic insurance plans.

In 2016, Ahli United Bank commenced operations in the UAE through Ahli United Bank Limited (AUBL) in the Dubai International Financial Centre and was granted a Category 1 license.

In 2018, Ahli United Bank signed an agreement with Tamkeen, Bahrain's Labour Fund, to provide a portfolio of subsidized financing 40 million Bahraini dinars to eligible medium and large enterprises in Bahrain.

Major Shareholders

• Social Security Public Institutions - Kuwait (18.67%)
• Social Insurance Organization - Bahrain (10.01%)
• Tamdeen Investment Co. - Kuwait (7.71%)

Business Units

The AUB Group's operations are composed of four core business units, all of which also provide Islamic financial products: corporate banking, treasury and investment operations, retail banking, private banking, and wealth management.

Islamic Finance

Ahli United Bank provides Shariah-compliant banking services through Ahli United Bank K.S.C.P., an Islamic banking subsidiary. In April 2010, the Bank of Kuwait and the Middle East was transformed into a fully Shariah-compliant Islamic banking institution and renamed Ahli United Bank K.S.C. Thereafter, the Group launched Islamic banking services through Ahli Bank S.A.O.G., an associate company in Oman, in Quarter 1, 2013. AUB Group officially launched its Islamic banking services under the name Al-Hilal.

Entity

• Ahli Union Bank BSC
• Ahli Union Bank BSC (Dubai International Financial Centre Branch)
• Ahli Union Bank (UK) P.L.C
• Al Hilal Islam
• Al Ahli Union Bank (Egypt) Limited
• Al Ahli Union Bank K.S.C.P
• Al Ahli Bank S.O.A.G
• Iraqi Commercial Bank
• United Bank for Commerce & Investment S.A.L. ( United Business & Investment Bank of America)

Regional Awards

• 2009 - Best Bank in the Middle East - Global Finance
• 2012 - Euromoney Excellence
• 2014 - Best Regional Bank in the GCC - Capital Finance International
• 2016 - Best Bank in the Middle East - The Banker
• 2016 - Best Regional Bank in the GCC - Capital Finance International