(MENAFN- Arab Times) National Bank of Kuwait (NBK) has been named 'The Bank of the Year in Kuwait 2017 by the leading and internationally renowned Financial Times magazine 'The Banker'.
The prestigious Banker award was presented to Fawzi Al Dajani, NBK London General Manager, on behalf of NBK, at a glittering awarding ceremony specially held in London for the occasion and attended by a host of international and regional senior bankers and executives. 'NBK's market-leading position in corporate banking in Kuwait was of particular note in 2017, with the lender acting as mandated lead arranger for a number of mega-deals,' said The Banker.
The Banker noted that the strength of NBK's corporate banking offering means it has an estimated market share of 75 percent of foreign corporates operating in the country. Similarly, its dominance in trade finance has seen the bank secure about an 80 percent share of export letters of credit. It is also the only Kuwaiti lender to have 100 percent of the business of the Kuwait National Petroleum Company, underscoring its expertise in the oil and gas industry.
NBK continues to enjoy collectively the highest ratings among all banks in the Middle East from the three international rating agencies Moody's, Fitch Ratings and Standard and Poor's. The Bank's ratings are supported by its high capitalization, prudent lending policies, and its disciplined approach to risk management, in addition to its highly recognized and very stable management team. NBK was also named among Global Finance's list of the 50 safest banks in the world for the 12th consecutive time.
NBK enjoys the widest banking presence with a local and international network reaching 4 continents. NBK's international presence spans many of the world's leading financial centers including New York, Europe, GCC, Middle East, Singapore as well as China (Shanghai).
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