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Bahrain Best bank: Ahli United Bank |
Ahli United is both a Bahrain powerhouse and a regional player, active in seven countries without a dependency on any one. As a group, it had a great 2014, with net profits up 31.7% year on year to $482.5 million, and operating income crossing $1 billion for the first time. Region-wide, it has $33.4 billion in assets, and has achieved growth prudently, with NPLs now down around 2% and total provision coverage of 159.4%.
Bahrain itself has not been the easiest place to do business in recent years, and it says a lot about AUB’s relative strength that it now has a rating higher than that of the sovereign itself, according to both Standard & Poor’s and Fitch.