Ahli United Bank (AUB), one of the region’s leading banking institutions, has been named ‘Bank of the Year - Bahrain’ for 2007 by The Banker magazine.

The Banker magazine is a widely respected publication and part of the UK’s Financial Times Group.

The Banker’s editorial team assesses banks on overall performance in the previous financial period incorporating performance criteria, qualitative achievements and strategic objectives. This year, The Banker received a record number of applications, with more banks than ever before competing fiercely for the coveted award. 

“AUB is extremely pleased to accept the ‘Bank of the Year- Bahrain 2007’ award. This is the fourth time we have received this accolade from The Banker, despite increasing competition and rapidly changing market conditions, underscoring our consistency and steady growth year on year,” said chairman, AUB, Fahad Al-Rajaan.

“This award is a further endorsement of the sound management principles and strategic direction of AUB as it relates to our regional expansion strategy by which we aim to achieve a significant cross-border presence in the various Gulf states,” added Al-Rajaan.

Panelists for The Banker magazine judged AUB’s increase in net profits, improvements in ROE, mergers and acquisitions strategy and consistently strong performance as key reasons for securing the ‘Bank of the Year- Bahrain 2007’ award. – TradeArabia New Service