Bahrain’s Ahli United Banks (AUB) board of directors reported Saturday a $40.1 million net profit for 2000, an 18 percent increase over 1999, reported Gulf News Daily on Sunday.
The report attributed the success to a merger last July 12 of the United Bank of Kuwait (UBK) and Al Ahli Commercial Bank (ACB), quoting chairman Mohammed Jalal.
However, 2000 was characterized not only by the successful integration of two complimentary institutions in their own right, but also by a very satisfactory financial performance in AUBs different activities, the chairman was quoted as telling shareholders at the annual general meeting (AGM), held in the Gulf Hotels Gulf International Convention and Exhibition Center – Albawaba.com
