National Bank of Kuwait
From Wikipedia, the free encyclopedia
| National Bank of Kuwait | |
 |
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| Type | Public |
|---|---|
| Founded | Kuwait City, Kuwait (1952) |
| Headquarters | Kuwait City, Kuwait |
| Industry | Banking |
| Revenue |  $2.2 billion USD (2004) |
| Operating income | $18.9 billion USD (2004) |
| Net income | $512 million USD (2004) |
| Website | www.nbk.com |
The National Bank of Kuwait first opened in Kuwait in 1952 to become the first national bank in the Gulf Region. NBK is currently the largest financial institution in Kuwait and one of the leading banks in the middle east with branches in New York,London, Paris, Geneva, Beirut, Jordan, Bahrain, Qatar and Singapore. Having capital resources of over $2.2 billion it is ranked in the top 300 banks of the world and fifth among arab banks.
"With capital resources exceeding KD 654 million ($2.2 billion), NBK is ranked amongst the top 300 banks in the world and the fifth amongst Arab banks. NBK reported a record net profit of $510 million (a 24% increase over the prior year) with a return on equity of 30%, a return on assets of 2.7% and total assets of $18.9 billion."
[edit] Awards
- NBK has consistently received the highest all-round credit rating awarded to any bank in the Middle East and the emerging markets by the major rating agencies including Moody's, Standard & Poor's, Fitch Ratings, and Capital Intelligence.
- In its annual 'Awards for Excellence' for 2004, Euromoney magazine recognized NBK as the Best bank in Kuwait for eleven consecutive years.
- In 2004, Global Finance named NBK the Best Bank in Kuwait and the Middle East particualarly in the areas of Trade Finance , Foreign Exchange and the Internet Banking.
- The Banker International magazine also named NBK as the Best Corporate Bank and Consumer Bank in Kuwait.
