Read AUB corporate Broch AW FINAL text version

connecting for growth

connecting for growth

group mission statement

To create an unrivalled ability to meet customer needs, provide fulfilment and development for our staff and deliver outstanding shareholder value.

objectives

· To maximise shareholder value on a sustainable basis · To maintain the highest international standards of corporate governance and regulatory compliance · To maintain solid capital adequacy and liquidity ratios · To entrench a disciplined risk and cost management culture · To develop a cross-cultural meritocratic management structure · To optimise staff development through business driven training and profit related incentive · To contribute to the social and economic advancement of the communities in which the Bank operates

a vision of growth

· Maintain sustainable profit growth through expanding operating presence in the core Gulf countries with a targeted 10-20% market share through mergers, acquisitions and organic means with complementary banking platforms acquired in identified secondary markets having cross-border flows with core Gulf countries. · Develop a diversified financial services group model centered on commercial banking, investment banking, private banking, asset management and life insurance with an enhanced Shari'a-compliant business focus and contribution.

Ahli United Bank is a fully-fledged commercial and investment banking group providing Islamic and conventional wealth management, retail, corporate, treasury, offshore and private banking facilities, focusing on the Gulf region, through its network of subsidiary and affiliated banks. Its goal is to provide these services on a regional

level with a sophisticated and broad range of products that are available in international markets, thus satisfying customers' needs and expectations. This, in turn, will continue to develop customer loyalty, trust and respect - the very foundations on which AUB is built - and which underpin its commitment to deliver outstanding shareholder value.

dynamic progress

Ahli United Bank (AUB) is committed to becoming a premier pan Gulf-Middle East retail, corporate and private banking institution. Significant progress has been made towards achieving this strategic objective in a dynamic and pragmatic way. A highly successful year in 2007 has, once again, shown the bank's drive and determination to fulfill its goal in a focused manner. July 2001 Ordinary share rights issue oversubscribed by 69%. Raised US$ 154 million (net). December 2002 Ordinary share rights issue oversubscribed by 176%. Raised US$ 243 million (net). August 2002 48% stake accumulated in The Bank of Kuwait & The Middle East KSC (BKME). July 2004 US$ 225 million debut syndicated loan oversubscribed. August 2004 40% stake acquired in Al Ahli Bank of Qatar (ABQ) through capital increase with a 10-year renewable management agreement. Bank subsequently renamed as Ahli Bank QSC. December 2004 1,000 million Partly Convertible Preference Shares Issue is oversubscribed by 72% with total subscription allotted proceeds - US$ 450 million. First hybrid capital issue in the GCC region. August 2005 Effective stake in BKME raised to 75%. October 2005 49% stake in Commercial Bank of Iraq acquired. December 2005 US$ 100 million subordinated floating rate note issue completed. August 2006 49% stake acquired in Delta International Bank SAE, Egypt. Bank subsequently renamed as Ahli United Bank (Egypt) SAE. 10 year renewable management agreement signed. October 2006 US$1,200 million Syndicated Deposit Facility raised. The single largest financing deal by a banking institution in the MENA region. December 2006 US$200 million Convertible Subordinated Loan raised from IFC then the largest investment by the IFC in the MENA region. December 2007 35% stake acquired in Alliance Housing Bank S.A.O.G, Oman. Bank subsequently renamed as Ahli Bank S.A.O.G. 5 year renewable management agreement signed. December 2007 US$374 million pre-emptive share rights offering oversubscribed by 33%. Represents fourth successful Tier-1 capital issuance since inception.

75% 40% 49% 75% 49% 35%

stake in the Bank of Kuwait and The Middle East KSC

stake in Ahli Bank QSC, Qatar

stake in Commercial Bank of Iraq PSC

stake in Kuwait & Middle East Financial Investment Company KSC (c)

stake in Ahli United Bank (Egypt) SAE

stake in Ahli Bank S.A.O.G, Oman

group expansion strategy

Ahli United Bank (AUB) Bahrain

20 branches

Ahli United Bank (UK) PLC United Kingdom 100% Branches in London & Guernsey

The Bank of Kuwait & The Middle East KSC Kuwait 75% 22 branches

Ahli Bank QSC Qatar 40% with management agreement 13 branches

Commercial Bank of Iraq PSC Iraq 49% 10 branches

Kuwait & Middle East Financial Investment Company KSC (c) Kuwait 75%

Kuwait, Oman, Dubai, Abu Dhabi Saudi Arabia & Jordan operations. Bahrain & Egypt under establishment

Ahli United Bank (Egypt) SAE Egypt 49% with management agreement 20 branches

Ahli Bank SAOG Oman 35% with management agreement 7 branches

Core Target Countries

Saudi Arabia UAE Iran Switzerland

Other Target Countries

Yemen Lebanon

financial highlights

The success of our strategy of carefully balancing targeted corporate expansion with organic growth while maintaining a prudent, diversified risk and judicious cost management approach is reflected in the sustained growth trends.

US$ `000

2007 Net Profit* Total Assets Total Loans Total Liabilities and subordinated liabilities Shareholders' Equity* Minority Interest Return on Average Assets Return on Average Equity Cost Income Financial Leverage Risk Asset Ratio Earning per Share (US cents) - Basic Earning per Share (US cents) - Diluted Cash Dividend per Ordinary Share (US cents) Share Dividend per Share (US cents) *Attributable to the Bank's equity shareholders 296,317 23,049,852 12,035,153 20,401,731 2,309,720 338,401 1.7% 18.0% 35.8% 8.5 16.2% 9.1 7.9 3.5 2.5 2006 207,480 20,798,907 8,873,357 18,972,235 1,543,118 283,554 1.7% 15.1% 39.8% 12.0 14.8% 6.4 5.6 3.5 2.5 2005 164,865 13,872,229 5,986,396 12,249,031 1,367,618 255,580 2.1% 13.5% 36.8% 8.7 16.4% 5.1 4.4 3.0 1.25 2004 106,545 8,124,872 2,901,842 7,123,969 1,000,903 n.a. 1.6% 11.3% 41.2% 6.9 23.7% 3.6 3.6 2.7 2003 87,076 6,270,066 2,506,945 5,333,921 936,145 n.a. 1.5% 10.4% 39.4% 5.5 20.6% 2.9 2.9 2.4 -

The year 2007 reflects the continuing trend, since inception of the bank in 2000, of a healthy, balanced and sustainable growth in financial performance. Benefits continued to accrue from the implementation of a growth strategy in a phased manner through a balance of organic development and mergers and acquisition. During the year, total assets grew by 11%. Return on average equity increased to 18.0% despite generic adverse and challenging market conditions besides inflationary cost pressures.

US$ 296.3

million Net Profit for the year 42.8% growth

Net Profit US$ million

2007

296

2006

207

2005

165

2004

107

2003

87

Sustained Profit Growth

Capitalizing on opportunities in the region, AUB has significantly expanded its operations and achieved strong earnings growth which clearly justifies shareholder confidence in the expansionary strategy it has put in place and the management's ability to execute it in a timely, effective and business focused manner.

Total Assets US$ million

2007

23,050

Total Loans US$ million

2007

12,035

2006

20,799 8,873

2006 2005

5,986

2005

13,872 8,125

2004

2,902

2004 2003

2003

6,270 2,507

Deposits US$ million

2007

17,770

Shareholders' equity US$ million

2007

2,310

2006

16,366 1,543

2006 2005

1,368 1,001

2005

10,503 5,956

2004 2003

2004 2003

4,593

936

Strong & Balanced Growth

regional awards

B

ST

AN

K A W AR

D

EX

N

CH

A N G E P R O VID

ER

B E S T F O R EI G

·

A AW

20

BE

08

R D · 2 0 08

Awards for excellence

2007

Middle East

Middle East

Middle East

B

ST

AN

K A W AR

D

B

ST

AN

K A W AR

D

·

·

20

20

BE

BE

07

06

Middle East

Middle East & Africa

Best Local Private Bank

country / product awards

B

ST

AN

K A W AR

D

·

20

BE

08

Awards for excellence

BAHRAIN

2007

Bahrain

Bahrain

B

ST

AN

K A W AR

D

·

20

BE

07

Bahrain

Bahrain

B

ST

AN

K A W AR

D

ES

TF

OR

EI G N E X C H A N

GE

W O R LD'S B

·

20

BA

BE

NK ·

06

2007

Bahrain

Best Private Bank for Real Estate Investment - Bahrain

Bahrain

group external ratings

Ahli United Bank : A- (stable) - Fitch 08/2007 A- (stable) - S&P 11/2007 A (stable) - Capital Intelligence 06/2007

Ahli United Bank (UK) : A- (stable) - Fitch 08/2007 The Bank of Kuwait & : A- (stable) - Fitch 10/2007 The Middle East KSC A- (stable) - Capital Intelligence 06/2007

Ahli Bank QSC

: BBB+ (stable) ­ Fitch 06/2007 BBB+ (stable) ­ Capital Intelligence 06/2007 : Baa1 (stable) ­ Moody's 11/2007

Ahli Bank SAOG

Solid Investment Grade Rating

The Group

Ahli United Bank B.S.C. Al Seef District 428 P.O. Box 2424 Manama - Bahrain Tel : (+973) 17 585 858 Fax: (+973) 17 580 569 www.ahliunited.com Ahli United Bank (UK) PLC 35 Portman Square London W1H 6LR United Kingdom Tel : (+44) 20 7487 6500 Fax: (+44) 20 7487 6808 www.ahliunted.com The Bank of Kuwait & The Middle East KSC P.O. Box 71 Safat 13001 - Kuwait Tel : (+965) 802000 Fax: (+965) 246 1430 www.bkme.com Ahli Bank QSC Suhaim Bin Hamad Street Al Sadd Area P.O. Box 2309 Doha - Qatar Tel : (+974) 423 2222 Fax: (+974) 444 4562 www.ahlibank.com.qa Commercial Bank of Iraq PSC Al Sadoon Street Baghdad - Iraq Tel : (+964) 1 717 0048 Fax: (+964) 1 718 4312 Ahli United Bank (Egypt) SAE World Trade Center, 9th Floor 1191 Corniche El Nil P.O. Box 1159 Cairo - Egypt Tel : (+20) 2 580 1200 Fax: (+20) 2 575 7052 www.ahliunited.com Ahli Bank SAOG P.O. Box 545, PC 116 Mina Al Fahal Sultanate of Oman Tel : (+968) 245 77000 Fax: (+968) 245 68001 www.ahlibank-oman.com Kuwait & Middle East Financial Investment Company KSC (c) P.O. Box 819, Safat 13009, Kuwait Tel : (+965) 224 5000 Fax: (+965) 244 0627 www.kmefic.com.kw

April 2008

www.ahliunited.com

Information

AUB corporate Broch AW FINAL

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