Bank moves up 8 positions to rank 41st in list
KUWAIT: National Bank of Kuwait (NBK) maintained its listing in The World’s 50 Safest Banks list by Global Finance for the 12th consecutive time; topping international financial heavyweights. NBK is the only Kuwaiti bank in Global Finance’s list. According to the new ranking, NBK has moved up 8 positions ranking 41st on Global Finance’s list of the World’s 50 Safest Banks for 2017 and placed 2nd in the Middle East regional list.
This recognition demonstrates NBK’s exceptionally strong ratings, successful strategy, high standards and rigorous risk management discipline and governance. Global Finance rankings are based on collective long-term credit ratings from Moody’s, Standard & Poor’s and Fitch Ratings in addition to the total assets of the 500 largest banks worldwide. Global Finance’s listings have been well-recognized and trusted standards for the creditworthiness of financial institutions for more than 20 years. “The Safest Banks ranking for 2017 demonstrate the ongoing effects of global political uncertainty and the ripple effects that countrylevel shakeups can have more broadly on their regions-and even, in the case of larger, global banks, across the world.
While national leaders wrestle with country-first politics and relations with their neighbors and trading partners, our ranking provides a consistent metric by which clients can compare the stability and security of banks wherever they do business in the world,” said Global Finance in its press release. NBK continues to enjoy one of the highest credit ratings in the MENA region and internationally, with ratings of Aa3 from Moody’s, A+ from Standard & Poor’s and AA- from Fitch, all ratings carry a stable outlook.
The Bank’s ratings are supported by NBK’s conservative strategy, strong capitalization & asset quality, prudent lending policies, wise risk management and a highly stable management team. NBK enjoys the widest banking presence with an 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, Saudi Arabia, the UAE and Turkey.