Bank ranked 45th worldwide in Global Finance’s list
KUWAIT CITY, Oct 1: National Bank of Kuwait (NBK) maintained its listing in The World’s 50 Safest Banks in 2018 list by Global Finance for the 13th consecutive time; topping international financial heavyweights. NBK is the only Kuwaiti bank in Global Finance’s list. According to the new ranking, NBK ranks 45th on Global Finance’s list of the World’s 50 Safest Banks for 2018 and 2nd in the Middle East regional list.
This recognition demonstrates NBK’s exceptionally strong ratings, successful strategy, high standards and rigorous risk management discipline & governance. National Bank of Kuwait has maintained this prestigious ranking for more than a decade, refl ecting the strength and consistency it has enjoyed.
During this period, which witnessed many challenges in the banking industry, NBK demonstrated its ability to overcome the obstacles within a changing environment and strengthen its leadership position. “Global Finance’s Safest Banks rankings are a standard we developed to compare the reliability of banks across the world. We pride ourselves on providing this metric to aid readers in their decision-making processes regarding which bank they use,” said Global Finance publisher and editorial director Joseph D. Giarraputo.
“This year changing trade policies are having an impact on countries everywhere with continuing political uncertainty,” he added. Global Finance rankings are based on collective long-term credit ratings from Moody’s, Standard & Poor’s and Fitch Ratings in addition to the total assets of the 500 largest banks worldwide.
For 27 years, Global Finance’s listings have been well-recognized and trusted standards for the creditworthiness of financial institutions. NBK continues to enjoy one of the highest credit ratings in the MENA region and internationally, with ratings of Aa3 from Moody’s, A+ from Standard & Poor’s and AA- from Fitch, all ratings carry a stable outlook.
The Bank’s ratings are supported by NBK’s conservative strategy, strong capitalization & asset quality, prudent lending policies, wise risk management and a highly stable management team. NBK enjoys a wide banking presence with an international footprint spanning across the world’s leading financial centers including London, Paris, Geneva, New York and Singapore, as well as China (Shanghai). NBK’s MENA presence extends to Lebanon, Jordan, Iraq, Egypt, Bahrain, Saudi Arabia, the UAE and Turkey.