"Fitch" Upgrades NBK's Long-Term Rating to AA-.Summary: Dabdoub: The new rating is a further testimony to NBK's solid & sustainable growth as well as the success of its regional expansion strategy."Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. ", the internationally renowned source for credit ratings, has today upgraded the National Bank of Kuwait The National Bank of Kuwait first opened in Kuwait in 1952 to become the first national bank in the Gulf Region. NBK was founded by Khaled Zaid Al-Khaled. NBK is currently the largest financial institution in Kuwait and one of the leading banks in the middle east with branches in NBK's long-term credit rating to AA- from A+ with a stable outlook admittedly the highest credit rating ever accorded to a bank in the Arabian Gulf region and the Middle East. "Fitch" Upgrades NBK's Long-Term Rating to AA- Dabdoub: The new rating is a further testimony to NBK's solid & sustainable growth as well as the success of its regional expansion strategy. "Fitch Ratings", the internationally renowned source for credit ratings, has today upgraded the National Bank of Kuwait NBK's long-term credit rating to AA- from A+ with a stable outlook admittedly the highest credit rating ever accorded to a bank in the Arabian Gulf region and the Middle East. Fitch Ratings - one of the three leading global rating agencies -- stated that the upgrade of NBK's reflects the Bank's outstanding performance, well-recognized and strong franchise, and solid financial position, in addition to its dynamic growth and successful expansion strategy. "These fundamental strengths are furthered with NBK's stable and capable management team characterized by its clear vision and strategic approach", added Fitch. Commenting on this achievement, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of NBK NBK National Bank of Kuwait NBK Naval Base Kitsap (Washington) NBK Natural Born Killer(s) NBK Never Been Kissed NBK Nabeya Bi-Tech Kaisha NBK Norsk Brettseiler Klubb (Norway) Group, Ibrahim Dabdoub said that upgrading NBK's rating by Fitch Ratings international agency to the highest credit rating in the Gulf region and the Middle East constitutes a source of immense pride for both the State of Kuwait Noun 1. State of Kuwait - an Arab kingdom in Asia on the northwestern coast of the Persian Gulf; a major source of petroleum Koweit, Kuwait Arab League - an international organization of independent Arab states formed in 1945 to promote cultural and economic and NBK alike, adding that although NBK is not the largest Arab bank, the rating upgrade provides a further testimony to the success of the Bank's local and regional approaches and strategies. Mr. Dabdoub pointed out that NBK has witnessed remarkable developments as well as dynamic and consistent growth during the last few years, particularly in respect of regional expansion, adding that further elaborate regional expansions within a number of countries in the region are in the offing coming; arriving in the foreseeable future. visible but not nearby. See also: Offing Offing . NBK Group is set to make yet another exceptional year. During the first half of 2008, the Group net profits rose to USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 661.3 million (KD 175 million) during the first six months of 2008. NBK's total assets were USD 42.4 billion (KD 11.2 billion) at the end of the first half, while shareholder equity grew to USD 6.1 billion (KD 1.6 billion). NBK is distinguished among Arab banks by its comprehensive network branches, subsidiaries and representative offices spanning its home region and major regional and global centers such as; London, Paris New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Turkey, China, Vietnam, Singapore Qatar, Lebanon, Jordan, UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. , Bahrain, Iraq and Saudi Arabia. 2008 Al Bawaba (www.albawaba.com) 2008 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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