Euromoney, the renowned international magazine in the finance industry, has recently awarded National Bank of Kuwait (NBK) "Best Private Bank for 2010". The award, which was announced in Euromoney’s February special edition on top banks in wealth management and private banking services, was presented to NBK at a glittering Dinner and Awards Ceremony that was held recently in London.
NBK's General Manager-Private Banking Group, Malek Khalife said that awarding NBK the prestigious title of "the Best Private Bank for 2010" constitutes a source of immense gratification and pride. This award comes as a new recognition of NBK's unique and leading position in the market and the impressive achievements it has accomplished at a time the financial crisis and its reverberations have been felt dramatically across the whole banking industry in general and the private banking in particular".
In awarding NBK "the Best Private Bank for 2010", Euromoney cited that the selection of NBK for this title is mainly attributed to the leading position the bank enjoys in the field of wealth management and private banking both locally and regionally in addition to the durable and strong relationships it has built with its high net-worth clients, the volume of assets managed by the bank and the provision of a full spectrum of innovative investment and wealth management products and solutions of the highest international standards”.
Khalife pointed out that during 2009, NBK had successfully launched a series of innovative products such as the KD Ijara, foreign currency structured lease, in addition to the existing platform of funds, Real Estate, Trusts and Offshore companies and foundations.
"I take this opportunity to express my sincere thanks and gratitude to both the invaluable efforts of the private banking team as well as the trust of NBK clients that enabled the bank to win such a prestigious title", Khalife said
"The impressive growth achieved by NBK Group during 2009 provides yet another evidence of the bank's remarkable performance and capability to maintain its leading position despite current difficulties for international financial markets and the challenges of the global financial crisis" Euromoney added.
In addition to already boasting the largest local branch network comprising 69 branches in Kuwait, NBK currently has the largest and widest overseas banking network encompassing 155 branches, representative offices and subsidiaries strategically located within 17 countries spread over four continents worldwide, including 10 countries in the Middle East.
