|23 January, 2019

4 Kuwaiti banks nab spots among world’s top valuable brands

Industrial and Commercial Bank of China (ICBC) topped the list with value of $79.823bln

Mubasher: Four Kuwaiti banks ranked among the top 500 valuable lenders in terms of market capitalisation in 2019, led by the National Bank of Kuwait (NBK), according to the Banker’s Brand Finance Global 500 2019 report.

NBK’s global ranking fell to 147th place in 2018 from 121st in 2018 by market capitalisation, the report added.

Meanwhile, Kuwait Finance House (KFH) rose to the 174th rank from 180th in 2018, while Commercial Bank of Kuwait’s (CBK) ranking was unchanged at 419th and Gulf Bank of Kuwait (GBK) came in at the 430th position from the 450th a year earlier.

Globally

Amazon was named the world’s most valuable brand with a value of $187.9 billion followed by US tech giants Apple and Google with market capitalisations of $153.6 billion and $142.7 billion, respectively.

In the banking industry, the Industrial and Commercial Bank of China (ICBC) topped the list with value of $79.823 billion, followed by China Construction Bank and the Agricultural Bank of China with $69.742 billion and $55.04 billion, respectively

Source: Mubasher Exclusive

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