Middle East Economic Survey

VOL. LIII

No 11

15-March-2010

LIBYA

Bahrains AUB Takes 40% Stake In UBCI

Bahrains Ahli United Bank (AUB) announced on 9 March that it has acquired a 40% interest in Libyas United Bank for Commerce and Investment (UBCI) through a capital hike, following the approval granted last month by the central banks of Bahrain and Libya. The lender, which invested $53.8mn, said UBICs general assembly had unanimously approved the capital hike through issuing new shares and...