Global Finance, the prestigious international financial magazine, ranked NBAD for the fifth consecutive year in its World’s 50 Safest Banks. NBAD remains the highest ranked Middle East bank in the list.
Global Finance’sannual ranking of World’s 50 Safest Banks is a recognised and trusted standard of credit worthiness for the entire financial world.
“The continuous inclusion of NBAD among the World’s 50 Safest Banks reflects our disciplined strategy and ongoing focus on long term, sustainable growth,” says Alex Thursby, the Group Chief Executive Officer of NBAD. “NBAD’s continued strong credit ratings complemented by its ranking among the World’s 50 Safest Banks are an invaluable asset that will serve our ambitious growth plans, including ourstrategy to be a leading player in the West-East Corridor.”
Global Finance selects banks for this list through an evaluation of long-term credit ratings—from Moody’s, Standard & Poor’s, and Fitch—and total assets of the 500 largest banks worldwide.
“This ranking offers companies an objective tool for evaluating the world’s banks—both globally and by region,” says Joseph D. Giarraputo, Publisher of Global Finance.
Regarding the top safest banks in the Middle East, in which NBAD ranked highest, Mr. Giarraputo says: “Global Finance’s Safest Banks ranking provides an objective tool for benchmarking and analysis of regional banks.”
NBAD’s long term ratings are amongst the strongest combined ratings of any financial institution in the MENA region with ratings from Moody’s Aa3, Standard & Poor’s (S&P) A+, Fitch AA-, RAM (Malaysia) AAA, R&I’s (Japan) rating of A+, and ranked among the World’s 50 Safest Banks by Global Finance.
“NBAD has retained and strengthened its position in the league of the safest institutions in the world by virtue of the prudence exercised in its business conduct. During the recent global financial crisis, NBAD remained true to its principle of utilising its strong balance sheet to support customers. NBAD's financial strength has allowed us to continue doing business and expand throughout the crisis,” says Abdulla M.S. AbdulRaheem, the Deputy Group Chief Executive Officer of NBAD.