NBAD, NBK top safest banks' list
New York, August 26, 2013
National Bank of Abu Dhabi (NBAD) and National Bank of Kuwait (NBK) have been ranked as the world’s safest banks for 2013 by Global Finance magazine from the Middle East and Africa region.
The others in the Top 10 list include Qatar National Bank, Samba Financial Group (Saudi Arabia), National Commercial Bank (Saudi), Al-Rajhi Bank (Saudi), Riyad Bank (Saudi), Abu Dhabi Commercial Bank, Banque Saudi Fransi and SABB Saudi.
The winners were selected through an evaluation of long-term credit ratings—from Moody’s, Standard & Poor’s and Fitch—and total assets of the 500 largest banks worldwide. The final list will be published in the October 2013 issue.
Saudi Arabian banks have performed very well again this year, taking six of the top ten positions, said the New York-based magazine.
The full report evaluates the safest banks in Western Europe, Central and Eastern Europe, Asia, the Middle East, North America, Latin America and Australasia, it added.
“Bank counterparty assessment has become an intrinsic part of the job of a CFO and treasurer,” remarked Global Finance publisher Joseph D. Giarraputo.
“Global Finance’s Safest Banks ranking provides an objective tool for benchmarking and analysis of regional banks,” he added.-TradeArabia News Service