Arab Banking Corporation - Bahrain

COMPANY DESCRIPTION

Arab Banking Corporation was incorporated as a Bahrain joint stock company on 17 January 1980.

By April 1981, an amount of USD 750 million was fully paid by ABC's original three shareholders: the Ministry of Finance of Kuwait (later transferred to the Kuwait Investment Authority), the Libyan Secretariat of Treasury (whose shares were later transferred to the Central Bank of Libya) and the Abu Dhabi Investment Authority.

Each of the three shareholding groups held one-third of ABC's share capital until 1990. At the end of 1989, ABC's authorized capital was increased to USD 1,500 million. In 1990, ABC listed its shares on the Bahrain and Paris stock exchanges and increased its paid-up capital to USD 1,000 million by a public offering in Bahrain and an international private placement.