Topping the 10 Safest Banks in the Middle East list for the 3rd consecutive time
• GF: NBK maintained investors' confidence as it succeeded in achieving growth in both profits and shareholders equity, and enhancing the solidness of its capital base and the quality of its assets
For the third consecutive time, the leading US-based Global Finance has recently selected the National Bank of Kuwait (NBK) as the Safest Bank in the Middle East-2010 in an exclusive survey that covers the top 10 Safest Banks in the Middle East.
Global Finance placed NBK on the top of the 10 "Safest Banks in the Middle East" list for 2010. The list is published by Global Finance concurrently with the world's top 50 Safest Banks in which NBK was the only bank in the Arab world and Middle East to be enlisted, for the third consecutive time.
Global Finance indicated that NBK was among the few banks that succeeded in achieving growth in both profits and shareholders equity, in addition to retaining the highest long-term credit ratings amongst emerging markets banks despite the adverse conditions prevailing in Kuwait and the Middle East region. Thanks to its conservative approach to risk management, NBK also succeeded in enhancing both the solidness of capital base and the quality of its assets.
Publisher of Global Finance, Joseph D.Giarraputo said that "More than ever, long-term creditworthiness is being viewed as the key feature of NBK. The list of the safest banks in the Middle East, which is topped by NBK includes banks that have enjoy solid capital positions and superior risk management capabilities".
The banks were selected through a comparison of the total assets and the long-term credit ratings from Moody's, Standard & Poor's and Fitch. NBK has consistently been awarded the highest ratings amongst all banks in the emerging markets.
World's Safest Banks 2010 in the Middle East
National Bank of Kuwait (Kuwait)
|2||National Bank of Abu Dhabi (UAE)|
|3||Samba Financial Group (Saudi Arabia) |
|4||Qatar National Bank (Qatar) |
|5||National Commercial Bank (Saudi Arabia)|
|6||Riyad Bank (Saudi Arabia)|
|7||Al Rajihi Bank (Saudi Arabia)|
|8||Kuwait Finance House (Kuwait)|
|9||Saudi British Bank (Saudi Arabia)|
|10||Banque Saudi Fransi (Saudi Arabia)|