Ahli United ups Egypt subsidiary stake

Bahrain's Ahli United Bank (AUB) has said it has increased its ownership stake in its Egyptian subsidiary, Ahli United Bank, Egypt (AUBE), from 35.3% to 79.6% through a formal tender offer to all its shareholders, Gulf Daily News has reported. "Our additional investment of EGP985m ($181m) reflects our confidence in the future economic prospects of Egypt and will be followed by significant investments to upgrade our corporate and retail capabilities in AUBE," AUB said in a statement.