Bahrain-based Ahli United Bank (AUB) has been recognised as the "Private Bank of the Year - Bahrain" at the Global Private Banking Awards 2014.

The awards are a joint initiative by The Banker and Professional Wealth Management (PWM) magazines, two publications of the London-based Financial Times Group, one of the world's foremost media organisations, said a report in the Gulf Daily News (GDN), our sister publication.

The PWM/The Banker Global Private Banking Awards recognise and reward excellence in wealth management among banks from across the world, based on rigorous qualitative and quantitative criteria.

This is the first year an award ranking was introduced for Bahrain, making AUB the inaugural winner of this prestigious survey of private banking services around the world.

AUB's sister operation in Kuwait was also announced the first recipient of the "Private Bank of the Year - Kuwait", a double win underscoring the industry-leading position regionally of AUB group's private banking franchise.

"We are gratified by this recognition of the strength and quality of our private banking offering, and doubly so for both Bahrain and Kuwait," AUB deputy group chief executive for private banking and wealth management Sawsan Abulhassan.

"This is a testament to our ongoing efforts to provide our clients with world-class expertise and personalised solutions.

"At AUB, we pride ourselves on being the trusted local financial partner to our valued clients, while affording the same level of individual attention and seamless services wherever they go, whether in the Gulf, Egypt or the UK where we have a strong and well-established presence since the 1960s."

This award is the latest in a string of recognitions received by AUB this year, including: "Best Local Private Bank, Bahrain - 2014" by Euromoney and "Best Bank in Bahrain, 2014" by both Euromoney and Global Finance for the ninth consecutive year. - TradeArabia News Service