National Bank of Kuwait: Difference between revisions
Emirbachir (talk | contribs) Correcting and expanding info on Egyptian bank acquisition |
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The bank's founders were [[Ahmed Saud Al-Khaled]], [[Khaled Abdullatif Al-Hamad]], [[Sayed Ali Sayed Sulieman Al-Rifai]], [[Abdulaziz Hamad Al-Sager]], [[Mohamed Abdulmohsen Al-Khorafi]], [[Yousef Ahmed Al-Ghanim]], [[Yousef Abdulziz Al-Fulaij]], and [[Khalid Al-Ghunaim]]. These men represented the major merchant families in Kuwait at the time. Most of them established businesses which continue to play a major part in Kuwait's business community today. |
The bank's founders were [[Ahmed Saud Al-Khaled]], [[Khaled Abdullatif Al-Hamad]], [[Sayed Ali Sayed Sulieman Al-Rifai]], [[Abdulaziz Hamad Al-Sager]], [[Mohamed Abdulmohsen Al-Khorafi]], [[Yousef Ahmed Al-Ghanim]], [[Yousef Abdulziz Al-Fulaij]], and [[Khalid Al-Ghunaim]]. These men represented the major merchant families in Kuwait at the time. Most of them established businesses which continue to play a major part in Kuwait's business community today. |
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In November 2007, National Bank of Kuwait (NBK) announced the acquisition of nearly 94% of Al Watany Bank of Egypt, a small Egyptian commercial bank. The bank had previously announced an intention to enter the Egyptian market and had made several unsuccessful bids. Egypt is |
In November 2007, National Bank of Kuwait (NBK) announced the acquisition of nearly 94% of Al Watany Bank of Egypt, a small Egyptian commercial bank. The bank had previously announced an intention to enter the Egyptian market and had made several unsuccessful bids. Egypt is viewed by a number of banks in the region as an important market for future expansion, being the market with the largest population and a reform minded government. |
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"With capital resources exceeding KD 1.5 billion ($5.5 billion), NBK is ranked amongst the top 300 banks in the world and the third amongst Arab banks. NBK reported a record net profit of $1 billion in 2007 (an 8% increase over the prior year) with a return on equity of 30%, a return on assets of 2.8% and total assets of $42 billion." |
"With capital resources exceeding KD 1.5 billion ($5.5 billion), NBK is ranked amongst the top 300 banks in the world and the third amongst Arab banks. NBK reported a record net profit of $1 billion in 2007 (an 8% increase over the prior year) with a return on equity of 30%, a return on assets of 2.8% and total assets of $42 billion." |
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Revision as of 11:06, 5 October 2008
| File:NBK Logo.jpg | |
| Company type | Public |
|---|---|
| Industry | Banking |
| Founded | Kuwait City, Kuwait (1952) |
| Founders | Consortium of Kuwaiti merchants |
| Headquarters | Kuwait City, Kuwait |
| Revenue |  $5.5 billion USD (2007) |
| $1.55 billion USD (2007) | |
| $1.01 billion USD (2007) | |
| Website | www.nbk.com |
First opened in Kuwait in 1952, the National Bank of Kuwait (NBK) is the first indigenous bank in the Gulf Region. Founded by a consortium of Kuwaiti merchants, NBK is currently the largest financial institution in Kuwait and one of the leading banks in the Middle East. It has a presence in New York , London, Paris, Geneva, Beirut, Jordan, Bahrain, Qatar, Singapore, Vietnam, Iraq, Jeddah, and Shanghai. With capital resources of over $5.5 billion, it is ranked in the top 300 banks of the world, and third among Arab banks.
The bank's founders were Ahmed Saud Al-Khaled, Khaled Abdullatif Al-Hamad, Sayed Ali Sayed Sulieman Al-Rifai, Abdulaziz Hamad Al-Sager, Mohamed Abdulmohsen Al-Khorafi, Yousef Ahmed Al-Ghanim, Yousef Abdulziz Al-Fulaij, and Khalid Al-Ghunaim. These men represented the major merchant families in Kuwait at the time. Most of them established businesses which continue to play a major part in Kuwait's business community today.
In November 2007, National Bank of Kuwait (NBK) announced the acquisition of nearly 94% of Al Watany Bank of Egypt, a small Egyptian commercial bank. The bank had previously announced an intention to enter the Egyptian market and had made several unsuccessful bids. Egypt is viewed by a number of banks in the region as an important market for future expansion, being the market with the largest population and a reform minded government.
"With capital resources exceeding KD 1.5 billion ($5.5 billion), NBK is ranked amongst the top 300 banks in the world and the third amongst Arab banks. NBK reported a record net profit of $1 billion in 2007 (an 8% increase over the prior year) with a return on equity of 30%, a return on assets of 2.8% and total assets of $42 billion."
NBK has consistently received the highest all-round credit ratings among banks in the Middle East and emerging markets by the major rating agencies including Moody's, Standard & Poor's, Fitch Ratings, and Capital Intelligence. This reflects its relatively stable management and conservative strategy. It was the only Kuwaiti bank to remain solvent during Kuwait's 1982 Manach crisis thanks to prudent management lead by CEO Ibrahim Dabdoub.
NBK has receives numerous bank industry awards, including the Euromoney magazine's 'Awards for Excellence' Best bank in Kuwait which it received for eleven consecutive years. In 2004, Global Finance named NBK the Best Bank in Kuwait and the Middle East particularly in the areas of Trade Finance, Foreign Exchange and the Internet Banking. The Banker International magazine also named NBK as the Best Corporate Bank and Consumer Bank in Kuwait.
NBK wholly owns NBK Capital, its investment banking and asset management arm. NBK Capital has offices in Kuwait, Dubai and Turkey.