Ahli United Bank (AUB), Bahrain's largest lender, has raised its stake in Commercial Bank of Iraq to 64.71 percent, according to a stock exchange statement.

AUB purchased a 10 percent stake in Commercial Bank of Iraq, AUB said in a statement on Monday, without elaborating.

A statement from the Iraq Stock Exchange on Thursday said AUB's stake in Commercial Bank of Iraq had reached 64.71 percent after AUB purchased 25 billion additional shares in the bank. It did not mention the price AUB paid for the shares.

Commercial Bank of Iraq's closing share price on Thursday was 0.43 dinars, which would value the 10 percent stake at around 10.75 billion dinars ($9.20 million).

AUB acquired a 49 percent stake in the bank in December 2005, according to AUB's website.

In addition to Iraq, AUB has a presence in Kuwait, Egypt, Libya, Oman and Britain. - Reuters