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NBK chosen 'safest bank' in Arab world

KUWAIT, September 11, 2014

National Bank of Kuwait (NBK) has been selected as the “Safest Commercial Bank” in the Arab World and ranked 23rd among the World’s Top 50 Safest Commercial Banks in 2014 in a survey.

NBK also maintained its ranking among the World’s Top 50 Safest Banks in 2014 for the ninth consecutive time in the rankings, compiled by Global Finance.

The rankings are based on evaluations of long-term credit ratings—from Moody’s, Standard & Poor’s and Fitch Ratings—and total assets of the 500 largest banks worldwide.

In addition to the annual World’s Top 50 Safest Banks list, Global Finance has issued a new list for the World’s Top 50 Safest Commercial Banks. For commercial banks to qualify for this ranking, they must not be majority owned by government or regional authorities.

On this new list, NBK topped all commercial banks in the Arab World and ranked 23rd globally, ahead of several international financial heavyweights. NBK also maintained its position among the World’s Top 50 Safest Banks in 2014, to be to be the only Arab bank on Global Finance’s list for nine consecutive times as well as the only Kuwaiti bank that was ever recognized on that list. The ranking illustrates the success of the NBK’s conservative strategy, prudent risk management and dedication to its excellence in providing its services.

Joseph Giarraputo, publisher and editorial director of Global Finance, said: “These banks are not government-owned, and are among the strongest and most secure institutions in the world.”

NBK continues to enjoy collectively the highest ratings in the Middle East from the three international rating agencies Moody’s, Fitch Ratings and Standard and Poor’s. The Bank’s ratings are supported by its high capitalization, prudent lending policies, and its disciplined approach to risk management, in addition to its highly recognized and very stable management team.

NBK enjoys the widest banking presence with an international network reaching 170 branches worldwide. NBK’s international presence spans many of the world’s leading financial centers including London, Paris, Geneva, New York and Singapore, as well as China (Shanghai). Meanwhile, regional coverage extends to Lebanon, Jordan, Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, the UAE, and Turkey. – TradeArabia News Service
 




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