Middle East Economic Survey
VOL. XLVIII
No 51
19-December-2005
bahrain
Ahli United Bank Acquires 49% Stake in Commercial Bank of Iraq
Bahrain-based Ahli United Bank (AUB) has recently completed the acquisition of a 49% stake in the Commercial Bank of Iraq, one of the largest private banks in Iraq. The acquisition, which increased the capital base of the Commercial Bank of Iraq from $9.6mn to $43.7mn, represents a milestone in AUBs plan to become a major regional group, said AUB Chairman Fahd...
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