United Gulf Bank Company Profile and Information

United Gulf Bank is a Bahrain-based bank that has been in operation since 2004. It was established by a group of Bahraini investors with the aim of providing a range of financial services to individuals and businesses in the region.

The bank's head office is located in Manama, Bahrain, and it has a strong presence in the country's financial sector. United Gulf Bank has a well-established network of branches and ATMs across Bahrain.

United Gulf Bank offers a range of financial services, including corporate and personal banking, investment services, and Islamic banking. Its services are designed to meet the diverse needs of its customers in the region.

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United Gulf Bank offers a wide range of personal banking services, including current accounts, savings accounts, and credit cards.

Their current accounts come with features such as online banking, mobile banking, and a debit card. These accounts also offer a competitive interest rate and no monthly maintenance fees.

The bank's savings accounts provide a fixed interest rate and the option to open an account with a minimum deposit of just 100 AED. This makes it an attractive option for those looking to save for a specific goal.

United Gulf Bank's credit cards offer rewards programs, cashback, and purchase protection. They also have a range of credit limits and payment terms to suit different needs.

United Gulf Bank's bank operations are designed to provide a seamless experience for customers. The bank's operations are supported by a robust technology infrastructure, enabling efficient processing of transactions and services.

The bank's online banking platform allows customers to manage their accounts, pay bills, and transfer funds from the comfort of their own homes. This platform is available 24/7, providing customers with flexibility and convenience.

United Gulf Bank's bank operations are also guided by a strong commitment to security, with robust measures in place to protect customer data and prevent financial crimes. This includes advanced security protocols and regular security audits to ensure the bank's systems remain secure.

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In the banking industry, the sector plays a crucial role in determining the type of operations a bank engages in.

The stock market is a key sector for banks, as it provides a platform for companies to raise capital and for investors to buy and sell shares.

UBBB Stock is a specific example of a stock that is part of the equities sector, which is a subset of the stock market.

United Gulf Bank B.S.C. is the company behind UBBB Stock, and it's a prominent player in the banking industry.

Here are some key sectors in the banking industry:

Burgan Bank has obtained the final approval from the Central Bank of Kuwait (CBK) to acquire 100% stake in United Gulf Bank (UGB).

This acquisition is expected to have an impact of 60 to 70 basis points on Burgan Bank's regulatory capital ratios, predominantly due to the consolidation of UGB's assets.

The purchase price of this transaction has been settled at $190 million, which roughly translates to 1.0x of UGB’s current shareholders’ equity or book value.

The execution of this transaction remains subject to closing formalities that are expected to be completed by the first quarter of 2025.

The acquisition is a strategic move that aligns with Burgan's new asset reallocation strategy and efforts to build new and diversified revenue streams.

This transaction will provide access to Kamco Invest’s platform to further drive Burgan's non-interest income and help expand its footprint across the GCC region.

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