Bahrain's Ahli United Bank announced that it has agreed to sell most of its 33.3% stake in Qatari lender Ahli Bank to the Qatar Foundation.
Ahli United Bank had agreed to sell 37,374,000 shares out of 37,375,000 from its stake in Doha-based Ahli Bank subject to shareholder approval from the Qatari lender, as per the same sources.
Founded in 1983, Ahli Bank is involved in banking and investment services through a network of 17 branches in Qatar providing an array of products and services within major business segments: Corporate Banking, Treasury and Investments, Retail and Private Banking & Wealth Management.
Established in 2000, Ahli United Bank provides conventional and Islamic commercial banking services including deposits, loans and credit cards. It also offers Islamic banking services including corporate finance and investment advisory on mergers and acquisitions, initial public offering and underwriting. Ahli Bank’s activities also encompass asset management services including wealth management and private equity investments.