NBAD Ranked Among World’s 50 Safest Banks 2009
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National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE, has been ranked among 50 safest banks in the world in 2009 by Global Finance.
The safest banks table compares the ratings for the world’s 50 safest banks, based on long-term foreign currency ratings from Fitch Ratings and Standard & Poor’s and long-term bank deposit ratings from Moody’s Investors Service.
The “World’s 50 Safest Banks” 2009 were selected through a comparison of the long-term credit ratings and total assets of the 500 largest banks around the world.
“We are delighted that NBAD has been recognized as one of world’s 50 safest banks and the safest bank in the UAE,” said Mr. Michael Tomalin, NBAD’s Chief Executive.
“After two tumultuous years that saw many of the world’s most respected banks drop out of the top-50 safest banks list, the dust appears to be settling. Those banks that kept an iron grip on their risk exposure before the financial crisis blew up have consistently topped the table and maintain their standing among the top echelon in this year’s ranking,’ said the Magazine.
“It’s been a bumpy two years for the rating agencies and many of the banks they evaluate,” says Global Finance publisher Joseph D. Giarraputo. “More than ever customers all around the world are viewing long term creditworthiness as the key feature of the banks with which they do business.”
“Being ranked as one of world’s safest banks during a period of unprecedented market turbulence further confirms the NBAD’s prudent policies” said Mr. Abdulla M.S. AbdulRaheem, Senior General Manager and Group Chief Operating Officer.