National Bank of Kuwait (NBK) has announced that it has been recognised as Best Provider of Money Market Funds in the Middle East 2012 by leading financial magazine Global Finance for the second consecutive year.

For the sixth consecutive time, NBK has been listed among the 50 safest banks in the world for 2012, a statement from the bank said. It ranked 34 on the list, illustrating the success of the bank’s conservative strategy, prudent risk management and dedication to service excellence.

The rankings, compiled by Global Finance, 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.

NBK ranked above several international financial heavyweights including BNP Paribas, Standard Chartered, Wells Fargo, Deutsche Bank, Credit Suisse, Barclays Group and Crédit Agricole, the statement said. – TradeArabia News Service