(Dubai, UAE: 4th December 2012): In Dubai for their quarterly board meeting, Afghanistan International Bank (AIB) - Afghanistan's leading commercial bank - looks to extend maturing business ties with UAE financial institutions whilst the two countries are drawn closer together through financial and social links.

Talking after the meeting Khalilullah Sediq, Chief Executive Officer of AIB and former governor of the Afghanistan Central Bank, said: "Trade between Afghanistan and the UAE was already some AED2bn in 2011, which may sound modest but is actually a hugely important amount in an economy recovering from years of war," said Mr Sediq.

"The UAE is a key trading partner for Afghanistan, because of its location, good business environment, and the fact that the Afghan community within the UAE forms the second largest diaspora of Afghans after the United States. Targeting this inter-country economic activity therefore, has become a fundamental aspect to AIB's growth strategy."

There are thought to be up to 200,000 Afghans living in the UAE.

As UAE based companies continue to see commercial opportunity within the pre-emerging market of Afghanistan, it is essential for the economic development of Afghanistan that there exists a viable and trusted financial institution to support this activity. 

"Despite the challenges faced in Afghanistan, commercial success for AIB continues to grow because of an increase in the market share of domestic clients and the expansion of foreign companies turning to AIB as the viable banking option within the country," Sediq said.      

Major UAE companies such as Etisalat are among AIB's over 100,000 clients. 

The Afghanistan International Bank has been steadily increasing links with UAE financial institutions. The bank has developed a set of special relationships with local UAE banks, who introduce clients that want to do business in Afghanistan to the Afghanistan International Bank.

Over for their quarterly board meeting the Afghanistan International Bank is also meeting with Emirates NBD to extend these relationships further.

The Afghanistan International Bank is today the leading Afghan commercial bank, and was recognized last week by the oldest publication in the banking industry, The Banker, as Afghan Bank of the Year 2012 at its annual awards ceremony in London. The bank has some 100,000 customers including many international governmental, non-governmental and commercial organisations operating in Afghanistan.

In Afghanistan itself, the Afghanistan International Bank in September completed a strategic Cooperation Agreement with Standard Chartered, which enables Standard Chartered to service its clients in Afghanistan through AIB, is acknowledgement of the bank's commitment to international best practice and governance standards as the bank continues to strengthen partnerships with key financial institutions within the region. 

-Ends-

Afghanistan International Bank (AIB) - supporting Afghanistan's future today, leading the way in Kabul's financial market:
As Afghanistan prepares for economic, political and security transition in 2014, Afghanistan International Bank (AIB) is focused on sustaining excellent performance and service for the benefit of its customers and for the development of the country. To this end, in early 2011, the bank's management developed a strategic plan for the period up to 2014, and the results are already being seen with an expanded network, with new branches, new products, new customer acquisition initiatives and, crucially, investment in technology and disaster recovery that complies with global standards and protects the bank and its investors from potential disaster. AIB is now Afghanistan's best performing and most respected financial institution.

The first private bank in the country promoted by multilateral development finance institutions only, the bank has recorded substantial gains across all of the most important performance indicators with sound fundamentals in capital, liquidity, profit margins and returns. In 2011, revenue rose by 26 per cent to $26.8 million, loans by 31 per cent to $101 million, deposits by 59 per cent to $611 million, and fee and foreign exchange income by 28 per cent to $10.6 million. The 30 per cent net profit margin for the year equates to earnings per share of $0.27 and 18.7 per cent return on equity, and the bank's net asset value per share now stands at $1.437.

About Afghanistan International Bank (AIB):
Afghanistan International Bank (AIB) is a leading commercial bank in Afghanistan. AIB was founded in 2004 at the instigation of three Afghani business groups and the Asian Development Bank.

From its inception, AIB's objective has been to assist in developing the Afghan economy and to conduct business in accordance with international governance standards. AIB's strategy is to build a sustainable foundation based on prudent growth and risk management. Corporate Governance has been and continues to be a major focus for AIB. As part of its investment in strong governance, AIB is compliant with international standards in AML.

AIB has 35 branches giving it presence in all main business centers covering north-south-east-west of the country. AIB has a customer base of over 100,000. AIB's business units comprise Corporate, Retail, E-Banking (POS, ATM, Mobile Banking, Internet Banking), and Treasury services.

The bank offers a variety of products and services under Retail Banking such as current accounts, saving accounts, term deposits, payroll services, debit cards, web surfer cards, payment services and internet banking services.

AIB also pays special attention to its corporate customers through its Corporate Banking Services, which comprises an array of customized banking solutions, tailor-made according to the needs of its corporate customers in Afghanistan. These services include Cash Management, Trade Finance, Loans, Foreign Exchange and Treasury services.

In recognition of AIB's growing success, The Banker magazine named AIB Bank of the Year in AFGHANISTAN in this year's Bank of the Year Awards, held in London on November 28th 2012.

For more information on Afghanistan International Bank, please visit: www.aib.af

For further information, please contact:
Afghanistan International Bank:
Khalilullah Sediq
CEO
+93 (020) 255 0 255
E-Mail: Khalil.sediq@aib.af

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Louise Hood
Associate Director
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E-Mail: Louise.hood@edelman.com

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