NBAD, NBK top safest banks' list
New York, August 26, 2013
National Bank of Abu Dhabi (NBAD) and National Bank of Kuwait (NBK) have been ranked as the world’s safest banks for 2013 by Global Finance magazine from the Middle East and Africa region.
The others in the Top 10 list include Qatar National Bank, Samba Financial Group (Saudi Arabia), National Commercial Bank (Saudi), Al-Rajhi Bank (Saudi), Riyad Bank (Saudi), Abu Dhabi Commercial Bank, Banque Saudi Fransi and SABB Saudi.
The winners were selected 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. The final list will be published in the October 2013 issue.
Saudi Arabian banks have performed very well again this year, taking six of the top ten positions, said the New York-based magazine.
The full report evaluates the safest banks in Western Europe, Central and Eastern Europe, Asia, the Middle East, North America, Latin America and Australasia, it added.
“Bank counterparty assessment has become an intrinsic part of the job of a CFO and treasurer,” remarked Global Finance publisher Joseph D. Giarraputo.
“Global Finance’s Safest Banks ranking provides an objective tool for benchmarking and analysis of regional banks,” he added.-TradeArabia News Service
More Finance & Capital Market Stories
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook
- GCC urged to set up onshore financial centres
- Consolidation push paying off for Bahrain banks
- Mubadala to focus more on US, Europe
- Six banks join plan for shared customer data register
- UAE economy grows 4pc in 2013
- Egypt foreign reserves up to $17.3bn
- StanChart opens second branch in Iraq
- Oil below $90 to hit GCC economies
- Payfort offers zero deposit scheme to SMEs
- In a first, NCB Capital names female CEO
- Du enters $1.17 billion financing deals