KUWAIT: National Bank of Kuwait (NBK) has been awarded by Citibank the prestigious Citi Performance Excellence Award for leadership and excellence in global electronic payments 2015. The award recognizes NBK’s exceptional quality in processing payments.
A delegation from Citibank presented the award to NBK recently. At the award ceremony held at NBK’s head office, Citibank representatives congratulated NBK. This award emphasizes and underpins NBK’s commitment towards its customers and its credibility assuring fast and efficient payment services with funds reaching the counterparty as quickly as possible.
This award is presented to leading financial institutions worldwide which have state-of-the-art international ‘straight-through-processing’ (STP) electronic payment services and meet Citi’s stringent correspondent banking and processing accuracy criteria.
The Straight Through Processing (STP) is the automated process of payments which increases processing speed resulting in efficient, rapid payment execution and credit for the bank and the customers it serves.
NBK continues to collectively enjoy the highest credit ratings 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 also maintains its position among the 50 safest banks in the world for the ninth consecutive time.
NBK Group has the widest banking presence in 4 continents 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 Saudi Arabia, UAE, Bahrain, Lebanon, Egypt, Jordan, Iraq, and Turkey.