Bahrain-based Ahli United Bank has invested $53.8m to acquire a 40% stake in Libya's United Bank for Commerce & Investment through a capital hike, Reuters has reported. UBCI's capital has been increased from 33.3m Libyan dinars ($26.47m) to 80m Libyan dinars, 60% of which is owned by Libyan shareholders, and the remaining is the Bahraini lender's share, AUB said. The deal has been approved by the central banks of the two countries.
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