National Bank of Kuwait
Kuwait’s largest bank, National Bank of Kuwait, continued to produce record-breaking profits in 2004 of $510m and in the first half of 2005 reported a record net profit of $337m, a record increase of 51% on the previous year.
With recent entry into Jordan, Iraq and Qatar, and preparations to start operations in Saudi Arabia and China in 2005, NBK’s international network will soon cover 13 countries and have the largest local network in Kuwait (48 branches).
Besides the region’s greater oil wealth, Iraq-related business provided further growth potential as did the regional expansion of many of NBK’s prime customers, especially in the capital markets areas.
NBK’s CEO, Ibrahim S. Dabdoub, says: “NBK is strongly committed to delivering superior value to shareholders, customers and the community, with whom our relationship is defined by trust and integrity. This commitment drives us to work tirelessly on solidifying our strengths: from financial and market leadership to strong values and ethics, and a respected and trusted brand name that is synonymous in Kuwait with quality, convenience, rich product array and innovative offering. This past year we not only delivered an outstanding performance at all levels, we also stepped up our efforts to be responsive and agile in meeting customer needs with appropriate solutions.”
