NBK among ‘top 5 safest banks’
Kuwait City, February 6, 2013
National Bank of Kuwait (NBK) has been listed among the top five safest banks in the Emerging Markets, by international finance magazine Global Finance.
It ranked fourth on the list of the safest banks, confirming the success of the bank’s conservative strategy, prudent risk management and dedication to service excellence, a statement from the bank said.
The rankings are based on evaluations of long-term credit ratings - from Moody’s, Standard & Poor’s and Fitch Ratings - and total assets of the 500 largest banks worldwide.
Global Finance, for the sixth consecutive year, listed NBK among the 50 safest banks in the world for 2012. Its annual ranking of World’s 50 Safest Banks has been a recognised and trusted standard of creditworthiness for the entire financial world for more than 20 years.
NBK ranked above several international financial heavyweights including BNP Paribas, Standard Chartered and Wells Fargo, as well as being the only bank from Kuwait. Major international banks were removed from the list including Deutsche Bank, Credit Suisse, JPMorgan Chase, Barclays Group and Crédit Agricole.
NBK has consistently been awarded the highest credit ratings of all banks in the region by the major international rating agencies - Moody's, Standard & Poor's and Fitch Ratings. – TradeArabia News Service