AUB Acquires 40% shares of MEFIC Capital

Ahli United Bank Group (AUB), a pan GCC Banking group, has obtained the necessary regulatory clearances to acquire 40% shares of Middle East Financial Capital (MEFIC Capital) a leading investment company operating under the Capital Market Authority of Saudi Arabia. With this acquisition, AUB becomes the largest shareholder in MEFIC Capital.

Ahli United Bank Group is considered one of the largest commercial Banking group in the Middle East with USD34Bn in Assets. It has business operations spread out across seven different countries. The 128 branch network covers the entire Middle East and North African region. Apart from this Ahli United Group has also a strong presence in United Kingdom. The Banking group has witness a steady increase of 6% CAGR in its Total Assets and an impressive 16% CAGR in its Net Profits during the last seven years. It has won many laurels in The Middle East region such as the “Best Emerging Markets Bank” in 2015 and “Best Private Bank in Bahrain” in 2014.

MEFIC Capital is a leading independent investment company operating under the Saudi Capital Market Authority regulations. MEFIC Capital thrives on providing investors with opportunistic investment options that are available across various asset classes in Saudi Arabia, and focuses on providing investors with fund products which invest into private equity Real Estate, fixed income and public equity. Furthermore, MEFIC Capital has been witnessing strong growth in its Assets under Management with a CAGR of over 70% during the last six years. Apart from Asset Management Operations, it has successfully completed various private equity transactions in Saudi Arabia. 

HE Dr. Abdulrahman Abdulaziz Al-Tuwaijri,  the chairman of the Board of MEFIC,  welcomes this acquisition and said that this acquisition of AUB will provide significant impetus to MEFIC growth plans, increases its investment activities,  and will benefit from the AUB experience, its geographical widespread, and the outstanding banking services of the Group.