National Bank of Kuwait

From Wikipedia, the free encyclopedia

National Bank of Kuwait
Type Public
Founded Kuwait City, Kuwait (1952)
Founder Khaled Zaid Al-Khaled
Headquarters Kuwait City, Kuwait
Industry Banking
Revenue ▲ $2.2 billion USD (2004)
Operating income ▲ $18.9 billion USD (2004)
Net income ▲ $875.8 million USD (2006)
Website www.nbk.com

First opened in Kuwait in 1952, the National Bank of Kuwait (NBK) is the first national bank in the Gulf Region. Founded by Khaled Zaid Al-Khaled, NBK is currently the largest financial institution in Kuwait and one of the leading banks in the Middle East. It has branches in New York , London, Paris, Geneva, Beirut, Jordan, Bahrain, Qatar, Singapore, Vietnam, Thailand, Iraq, Jeddah, and Shanghai. With capital resources of over $2.2 billion, it is ranked in the top 300 banks of the world, and third among Arab banks.

In november 2007, National Bank of Kuwait (NBK) announced the acquisition of a 93, 77% stake of Al Watany Bank of Egypt.

"With capital resources exceeding KD 654 million ($2.2 billion), NBK is ranked amongst the top 300 banks in the world and the third amongst Arab banks. NBK reported a record net profit of $510 million in 2005 (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 particularly 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.
Languages