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In a new testimony of its powerful brand and solid financial position, National Bank of Kuwait (NBK) ranked first among Kuwaiti banks in The Banker magazine’ list of Top 1000 World Banks, whereas it ranked 9th in the Middle East.
NBK maintained its 9th position in the Middle East rankings, despite the decrease in the number of regional banks in The Banker’s list for 2021 to 64 banks, compared to 68 banks in 2020.
The Banker’s annual ranking of Top 1000 World Banks was based on a set of criteria; basically total assets, Tier 1 capital, profitability, asset quality, return on capital and return on assets.
NBK topped the ranking at the level of Kuwait in terms of total assets and Tier 1 capital criteria, as the bank’s total assets amounted to $98 billion as of end of 2020, whereas Tier 1 capital reached $11.2 billion as of end of 2020.
Thanks to its solid financial position and strong financial results posted, NBK ranked 156th globally in The Banker’s list of Top 1000 World Banks.
The Banker magazine mentioned that the average return on assets (ROA) for the banks of the Middle banks recorded 0.87% in 2020, while the return on equity (ROE) was 7.32%, and the return on capital (ROC) reached 7.88%.
By the end of 2020, aggregate Tier 1 capital held by the world’s 1000 largest banks stood at $9.9tn, the highest total on record, and a 12.7% increase compared to the year before, it added.
The selection of NBK on this list is a testimony of its leadership at the regional and global levels, as well as its strong balance sheet and outperformance of regional banks in terms of many key financial indicators, despite the challenging conditions posed by the coronavirus pandemic.
Additionally, this listing among top world banks reflects the bank’s profit quality, depending on solid metrics across all its business lines, as well as its unique geographical footprint spanning 4 continents and 15 countries worldwide.
It is worth mentioning that over the past year, and in recognition of its efforts in supporting customers and employees, NBK was one of the few banks around the world to be recognized by a number of prestigious awards in the areas of innovation in digital banking services, and also scored a high rating in customer satisfaction index.
Meanwhile, NBK continues to collectively enjoy one of the highest credit ratings among most major banks of the Middle East from the top three international credit rating agencies: Moody’s, Fitch and Standard & Poor’s. The Bank’s ratings are supported by its strong capitalization, prudent lending policies, disciplined approach to risk management, as well as its highly experienced and very stable management team.
The Banker is a UK-based Financial Times publication founded in 1926. It is one of the most reputable financial intelligence magazines that conducts surveys to select and recognize top performing and leading banks worldwide.
For more information on The Banker’s ranking of Top 1000 World Banks, please visit the following website:
https://www.thebanker.com/Top-1000
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