"Global Finance" names NBK Best Emerging Market Bank in the Middle East 2010
The leading US- based Global Finance has selected the National Bank of Kuwait (NBK) as the Best Emerging Market Bank in the Middle East for 2010. Global finance stated that the remarkable and consistent growth achieved by NBK is a clear testament to the Bank's continued strength in the face of adversity as well as NBK's capacity to maintain its leading franchise, consistent profitability, strong asset quality, conservative risk profile and strong capitalization NBK also boasts the largest local and overseas branch network encompassing 175 branches, subsidiaries and representative offices located in the main international and regional financial centers.
Commenting on the occasion, NBK Group CEO, Ibrahim Shukri Dabdoub said that it was deeply gratifying for NBK to be selected as the Best Emerging Market Bank in the Middle East for 2010. Dabdoub added that winning such a prestigious ranking, despite the global financial crisis and its ramifications on both regional and international levels, provides further acknowledgment of the Bank’s financial solid position and the soundness of its policies and expansion strategies.
"Winning this distinctive ranking also emphasizes the uniqueness of the services and products we offer to our clients and provides a clear indication of NBK's high professional standards that have won the admiration and recognition of the leading international media and financial institutions", Dabdoub concluded.
NBK was ranked by Global Finance as 38th in the list of the World's 50 Safest Banks in 2009 in addition to being selected amongst the World's Best Banks for the same year. Despite the adverse conditions in the global financial system, NBK has also reported net profits of US$ 925 million (KD 265.2 million) for 2009.
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