National Bank of Kuwait (NBK), the largest Kuwaiti bank and the highest rated in the Middle East, announced the launch of a representative office in Shanghai, China in a move signaling its commitment to meet the evolving banking and advisory needs of its Kuwaiti customer base with growing banking interests in China.
Mr. Ibrahim S. Dabdoub, Chief Executive Officer of NBK, noted that the launch of the Shanghai representative office marked an important development in NBK’s international expansion strategy. “We are very excited to be the first Arab bank to establish a presence in one of the most important cities in China. Indeed, Shanghai is one of the world’s most vibrant and growing trade and investment center in the world today.”
“As a leading bank in Kuwait and the Arab world, we are pleased to expand our international presence to China as it is witnessing unprecedented growth in its economic and commercial role within the global economy in general, and in its ties to the Arab world in particular. Today China accounts for the lion’s share of the growth in global demand for oil, and it is clearly emerging as an important destination for Gulf crudes and refined products. Growth in Chinese exports to the Arab world is no less significant than to other major developed countries.”
Mr. Dabdoub said: “Many experts and analysts view China as an emerging great power. NBK would certainly want to be in this promising market. Through our new office in Shanghai, we are better positioned to assist our customers with the best banking solutions and advisory services.”
NBK stands out in Kuwait and among Arab banks in terms of its local and international network, which includes branches, subsidiaries and representative offices in Amman, Bahrain, Geneva, Iraq, Jordan, KSA, Lebanon, London, New York, France, Qatar, Singapore, Thailand, and Vietnam.