National Bank of Kuwait (NBK), for the seventh consecutive time, has been listed among the 50 safest banks in the world. NBK ranked 35 in the list, illustrating the success of the bank’s conservative strategy, prudent risk management and dedication to service excellence. The rankings, compiled by international finance magazine, 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 Wells Fargo and Standard Chartered Bank, as well as being the only bank from Kuwait. “Counterparty creditworthiness has seldom been of more concern to companies and investors worldwide,” said Global Finance publisher Joseph D. Giarraputo in a press release announcing the World’s 50 Safest Banks: April 2013. “Knowing how their counterparties are faring in the face of global economic uncertainty is key.
This ranking helps companies and investors to get a view on the relative strength of their counterparties-and global financial institutions.” 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. Global Finance’s annual ranking of World’s 50 Safest Banks has been a recognized and trusted standard of creditworthiness for the entire financial world for more than 20 years.
From Kuwait Times