Arab Today, arab today nbk records net profit of 819 million for 1st 9 months of 2011
Last Updated : GMT 05:54:25
Arab Today, arab today
Arab Today, arab today

NBK records net profit of $819 million for 1st 9 months of 2011

Arab Today, arab today

Arab Today, arab today NBK records net profit of $819 million for 1st 9 months of 2011

Kuwait - Qna

The National Bank of Kuwait (NBK), the largest Kuwaiti bank and the highest-rated in the Middle East, reported net profits of USD 819 million (KD 225.6 million) for the first nine months of 2011 compared with USD 815 million (KD 224.5) for the same period of last year. As at the end of September 2011, NBK Group\'\'s total assets stood at USD 47.6 billion (KD 13.1 billion), up five percent compared to September 2010, while total shareholders\'\' equity rose by 13.9% to USD 8.2 billion (KD 2.3 billion) over the same period. NBK Group\'\'s net operating income grew by 7.0% year over year (YoY) reaching USD 1,453 million (KD 400.4 million). Asset quality indicators remained exceptionally strong by regional and international standards with NPLs/Gross loans ratio dropping to 1.59% and coverage ratio reaching 226% as of end of September 2011. Ibrahim Dabdoub, NBK\'\'s Group Chief Executive, said \"NBK\'\'s ability to maintain its strong performance despite the global financial crisis and the weakening business environment in the region and the ongoing pressures on the global economy confirms the success of the bank\'\'s conservative strategy focusing on its core banking operations.\" \"NBK\'\'s regional plans remain generally intact. We have tightened our levels of control and risk management in light of the ongoing operating challenges in the Arab world. Nevertheless, we remain optimistic about our regional expansion strategy in the long run,\" Dabdoub added. Dabdoub also highlighted that NBK\'\'s prudent culture, along with its clear strategic vision, helped the bank maintain its strong financial position through different crises and earned it international recognition, the latest being the \"Best Bank in the Middle East\" award for 2011 from both Euromoney and Global Finance. NBK continues to enjoy the widest banking presence in Kuwait with 69 branches, which together with its growing international presence totals 177 branches worldwide. NBK\'\'s international presence spans many of the world\'\'s leading financial centers including London, Paris, Geneva, New York, Singapore, and China (Shanghai). Regional coverage extends to Lebanon, Jordan, Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, the UAE, and Turkey. NBK continues to enjoy collectively the highest ratings among all banks in the Middle East from the three rating agencies Moody\'\'s, Fitch Ratings and Standard and Poor\'\'s. The Bank\'\'s ratings are supported by its high capitalization, prudent lending policies, and its disciplined approach to risk management, in addition to its recognized and very stable management team.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nbk records net profit of 819 million for 1st 9 months of 2011 Arab Today, arab today nbk records net profit of 819 million for 1st 9 months of 2011

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nbk records net profit of 819 million for 1st 9 months of 2011 Arab Today, arab today nbk records net profit of 819 million for 1st 9 months of 2011

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday