National Bank of Kuwait (NBK) was recognized as the most valuable banking brand in Kuwait in 2015 according to Brand Finance, the renowned brand valuation agency. NBK ranks among the Top Tier of the Most 500 Valuable Brands in the world from all sectors.
According to Brand Finance, NBK's Brand value reached US$ 1.04 billion, up 32 percent year-on-year. Also, NBK's brand rating increased to AA, among the top in the region.
This recognition reflects customers and shareholders' trust in NBK as well as the bank's strong reputation locally and regionally.
David Haigh, Brand Finance CEO, said: "In common with much of the GCC, Kuwait's bank brands are growing strongly. NBK stands out however, by adding $250m to its brand value in a year, it has overtaken its competitors to become the nation's premier banking brand. With a total brand value of US$ 1.04 billion, it has now joined the elite 'billion dollar brands club'."
Brand Finance's valuation assesses the dollar value of the reputation, image and intellectual property of the brand. It considers a number of relevant attributes such as financial performance, revenue forecasts, growth rates, sustainability, and analysts' insights, amongst others.
NBK continues to collectively enjoy the highest ratings from the three international 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 highly recognized and very stable management team. In 2014, NBK was also named among Global Finance's list of the 50 safest banks in the world for the ninth consecutive time.
NBK has the widest banking presence with more than 170 branches worldwide. NBK's international presence spans many of the world's leading financial centers including London, Paris, Geneva, New York and Singapore, as well as China (Shanghai). Meanwhile, regional coverage extends to Lebanon, Jordan, Iraq, Egypt, Bahrain, Saudi Arabia, the UAE, and Turkey.