The United Bank for Commerce and Investment was established as a result of merging three private banks namely: Al-Ajilat National Bank, Zuwara Al-Ahli Bank, and Sahl Al-Jafara National Bank, in according to the decision of the Governor of the Central Bank of Libya issued on 1/7/2007. Three years later, the shareholders of The United Bank entered into a strategic partnership agreement with the Ahli United Bank Group in the Kingdom of Bahrain. Where the capital was distributed at a rate of (60%) to the Libyan side, (40%) to Al Ahli United Bank. The capital was increased from 33 million Libyan dinars to 80 million Libyan dinars, based on the agreement signed on 8/3/2010. The agreement includes managing and providing technical services, according to which Ahli United Bank will assume the technical management of The United Bank and provide all the necessary technical services to develop the business and activities of The United Bank.
AUB is an integrated banking and investment group operating throughout the Arab arena, providing wealth management services, commercial banking, individuals’ services, corporate banking, treasury business, offshore activities and private banking services.
In 2000, the establishment of AUB came as a result of a merger between the Ahli Commercial Bank (BSC), headquartered in Bahrain, and United Bank of Kuwait (PLC), headquartered in London. Since then the bank has achieved clear growth and major leaps on the regional arena by the virtue of the business strategy that the bank has drawn up since the first day of its establishment, which is based on achieving further expansion through self-growth processes and mergers and acquisitions of existing banks in the main target markets, and then working on investing opportunities for integration and unification of business among the banks joining the bank group. This makes them the close and preferred banking and financial link between regional markets on the one hand and global financial centers on the other hand.