United Bank of Commerce and Investment

Key Sector: Banking

Description

UBCI is well positioned in the Libyan banking sector with focus on Government/Public Sector, large multinational companies and top tier local corporate. UBCI combines excellent knowledge of the domestic market while providing clients with access to the global capabilities of a leading investment bank

Profile

United Bank for Commerce & Investment has been founded in 2007 as a result of merging three private banks; Ajeelat Ahli Bank, Zwara Ahli Bank, and Sahl Al-jfara Ahli Bank. During the early part of 2010, the bank investors made a strategic partnership agreement with the Ahli United Bank Group head quartered in the Kingdom of Bahrain. The capital was divided as 60% for the Libyan investors and 40% for the Ahli United Bank Group which have resulted in an increase in capital from 33 million Libyan Dinar to 80 million Libyan Dinar. As per the strategic partnership, Ahli United Bank Group is responsible for the technical and administration of the bank including technical services to develop activities and services for United Bank for Commerce & Investment for the upcoming10 years.