Finance magazine, Euromoney has awarded the National Bank of Kuwait (NBK) the Best Bank in the Middle East for 2002. Euromoney attributes this achievement to NBK's diversified earning base, financial strength and growing regional influence.
In investment banking, NBK, the largest financial institution in Kuwait, is one of the only Gulf Cooperation Council (GCC) banks capable of structuring and underwriting large regional capital markets transactions, says Euromoney. Its diversified business lines also include a highly successful asset management business managing more than four billion dollars in assets.
NBK was founded in 1952 as the first indigenous bank and the first joint stock company in Kuwait and the Gulf. It is by far the largest financial institution in Kuwait with an effective market dominance in the commercial banking market. 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 London, New York, Paris, Geneva, Bahrain, Beirut, Singapore, Vietnam and Thailand, with other ambitious plans for regional expansion. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
