Posted by DB Product Review on Friday, August 15, 2014 Under: Banks
Arab Banking Corporation, famously known as ABC, is an universal all inclusive bank headquartered in Manama, Kingdom of Bahrain. Our system spreads over 18 nations in the Middle East and North Africa, Europe, the Americas and Asia.
ABC, established in 1980, is recorded on the Bahrain Bourse and our significant shareholders are the Central Bank of Libya and Kuwait Investment Authority.
ABC is a heading supplier of Trade Finance, Treasury, Project & Structured Finance, Syndications, Corporate & Institutional Banking and in addition Islamic Banking administrations. We are additionally stretching our retail saving money organize in the MENA locale.
All out Assets
$28.068 billion - on June 30, 2014
$3.980 billion - on June 30, 2014
Middle Easterner Banking Corporation
ABC Tower, Diplomatic Area
PO Box 5698
Manama, Kingdom of Bahrain
(+973) 17 543000
ABC offers an extensive variety of universal wholesale keeping money administrations including Corporate Banking & Financial Institutions, Project & Structured Finance, Syndications, Treasury, Trade Finance administrations, and Islamic Banking and also Retail Banking, through business locales spread over 17 nations – Algeria, Bahrain, Brazil, France, Germany, Iran, Egypt, Italy, Jordan, Singapore, Sweden, Tunisia, Turkey, Libya, UK, Grand Cayman, Russia and the US.
ABC On-line - abconline.arabbanking.com
ABC Islamic Bank (E.c.)
Bedouin Financial Services B.s.c. (c)
ABC International Bank plc
ABC (IT) Services Ltd.
Banco ABC Brasil S.a.
ABC has a sum of 3.11 billion shares of basic stock remarkable. Stock exchanges on the Bahrain Bourse under the ABC image. The bank's approved capital is Us$ 3.5 billion. The subscribed & completely paid-up capital is Us$ 3.11 billion.
Middle Easterner Banking Corporation (ABC) was fused in Bahrain in accordance with Amiri Decree Law No.2 for the year 1980 on seventeenth January 1980 with an approved capital of Us$1 billion.
By April 1981, Us$750 million had been completely paid by ABC's unique three shareholders: the Ministry of Finance of Kuwait (whose shares have following been exchanged to the Kuwait Investment Authority), the Libyan Secretariat of Treasury (whose shares were later exchanged to the Central Bank of Libya) and the Abu Dhabi Investment Authority. At the end of 1989, ABC's approved offer capital was expanded to Us$1,500 million and in June 1990, paid-up capital was raised to Us$1,000 million through a worldwide offer advertising. In June 2006, ABC's shares were part $10 to $1 with a specific end goal to help exchanging exercises by putting them in the same extend as different shares cited on the Bahrain Bourse. At present, ABC has in excess of 1,300 institutional and individual shareholders.
At an Extraordinary General Meeting held in April 2008 ABC's shareholders endorsed an expand in the approved capital of the bank from Us$1.5 billion to Us$2.5 billion and a build in issued and paid up capital from Us$1.0 billion to Us$2.0 billion by method for a necessity rights offer offering to existing shareholders.
An alternate Extraordinary General Meeting was hung on January 28, 2010 to endorse an expand in the approved capital from Us$2.5 billion to Us$3.5 billion and a build in issued and paid up capital from Us$2.0 billion to Us$3.11 billion by method for a necessity rights offer offering to existing shareholders.
In December 2010 the Central Bank of Libya procured the 17.72% shareholding of Abu Dhabi Investment Authority in ABC, expanding its stake to 59.37%.
Corporate Communications Contacts:
Gathering Head of Corporate Communications
(+973) 17 5434
In : Banks