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History

History

From a glorious past to a promising future ... Ahli United Bank - Kuwait is the fruit of 77 years of perseverance and efforts in the search for excellence, leadership and continuity.

Its many milestones throughout its history paved the way for both its present and its future. It is proud to be the first bank to be established in Kuwait and the cornerstone for the development and prosperity of its banking sector.
  • More than

    78

    years of experience
  • Kuwaiti bank certificate

    100%

  • More than

    36

    branches
With the blessing of the late Emir of Kuwait Sheikh Ahmed Al-Jaber Al-Sabah, the journey began in 1941 with the establishment of the Imperial Bank of Persia, which was the result of the bank's alliance with the British Bank and the acquisition of concessions and licensing by Emiri decree.

A historic achievement took place in 1971, as the bank became fully owned by the Kuwaiti government and the Kuwaiti people after the end of the concession term granted to the British Bank in the Middle East, and the Bank changed its name to Bank of Kuwait and Middle East (BKME). It was incorporated as a 100% Kuwaiti bank and continued its journey with great determination and outstanding performance, accomplishing a wide range of achievements and enhancing its leading position over time.
In 2002, the journey continued towards more successes, with Ahli United Bank (AUB), which has a stellar reputation and an influential global presence in the banking sector, becoming the largest shareholder in the bank.

The first of April 2010 is considered the most important milestone in the thousand-mile journey, with Ahli United Bank Kuwait becoming a Sharia compliant bank. The decision to convert the bank's transactions to conform to Islamic principles came in line with the wise strategy and vision of the main shareholders. It was put into effect by the Executive Management of the Bank under the supervision of its Board of Directors. Thus, Ahli United Bank-Kuwait was able to move with confidence and pride into the field of Islamic banking, overcoming obstacles and difficulties, leading Islamic banks and pioneering mutual trust and success.

Journey of Success

  • December 2013

    Capital Intelligence, the international credit rating agency, affirmed the ratings of AUBK and also affirmed the quality of its assets in the banking sector, its solid capital adequacy, solid profitability, and improved financial liquidity.

  • October 2013

    Ahli United Bank of Kuwait announced that Moody’s affirmed the Bank's ratings with a stable outlook, confirming in its report the quality of the Bank's assets, its strong financial position, strong asset growth, solid capital adequacy, liquidity, and improved profitability from financing facilities.

  • October 2013

    AUBK earned the prestigious Citibank Award 2013 for its outstanding international electronic payment service provided to its customers and for the use of state–of–the–art technologies in the provision of STP in compliance with the strict accuracy standards set by Citibank.

  • December 2012

    AUBK launched its Sharia-compliant Real Estate Finance Service with exceptional features, including smooth and flexible premium payment methods that exceeded customers’ expectations.

  • November 2012

    Capital Intelligence, the international credit rating agency, upgraded its Long Term Foreign Currency Rating of AUBK to “A”. In addition, Moody’s affirmed AUBK’s ratings with a stable outlook. Such ratings reflect the bank’s solid financial position.

  • September 2012

    Fitch Ratings, the international credit rating agency, affirmed AUBK’s ratings with a stable outlook for long-term liabilities, and affirmed the continuing growth of the operating profits and the profitability indicators during 2011 and the first half of 2012 , which caused a noticeable growth in the net finance returns.

  • July 2012

    AUBK launched its Sharia-compliant Automobile Finance Service in a 2500 sqm showroom showcasing a large collection of automobile brands in Kuwait.

  • December 2011

    Moody’s, the international credit rating agency, upgraded its rating of AUBK for the coming juncture, based on the bank’s solid financial position that would enable it to overcome any future challenges and offer high-quality assets.

  • 2010

    The bank offered all its services and products in full compliance with the principles of Islamic Sharia under the name of Ahli United Bank (AUBK).

  • 2008

    The bank converted to an Islamic Sharia–compliant bank, thus achieving a significant milestone in its pioneering journey.

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