Finance magazine Euromoney has awarded the National Bank of Kuwait (NBK) the 'Best Bank in Kuwait, Best Local Partner and Best M&A House in Kuwait for 2003". The awards were announced in Euromoney's July issue commending the world's best banks.
Euromoney attributes these achievements to NBK's market share for both corporate and retail products, making the bank strong domestic franchise and leadership in technology that helped it grow. NBK also won the award for Best M&A House in Kuwait for its work on advising MTC, the dominant Kuwaiti mobile telecom operator, on its $424 million acquisition of Jordanian mobile operator Fastlink.
NBK was founded in 1952 as the first indigenous bank and the first joint stock company in Kuwait and the Gulf Region. It is by far the largest financial institution in Kuwait with an effective market dominance in the commercial banking market. It enjoys a capital base of $1.8 billion and assets of $17.6 billion. NBK has branches, subsidiaries and representative offices in London, New York, Paris, Geneva, Bahrain, Beirut, Singapore, Vietnam and Thailand, with other ambitious plans for regional expansion. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
