15 Nov. 1952..A remarkable chapter in the history of Kuwait economy

NBK celebrates 57 Glorious Years of Service

National Bank of Kuwait (NBK), is celebrating this week - the 15th of November 2009 – the 57th anniversary year of its foundation and day 1 of operations. Established in 1952 as the first indigenous bank and the first shareholding company in Kuwait and the Gulf with a capital of one million Kuwaiti Dinars, NBK saw its first tier equity grow to US $ 6.1 billion (KD 1.7 billion) and its total assets to US $ 42.6 billion (KD 12.2 billion by end of September 2009.

 
A remarkable story of success

The commemoration of this inspiring and monumental occasion comes as a culmination of a remarkable story of success depicting the evolution of a small bank that started operations in 1952 within a total space of three shops and a handful of employees relying on traditional and manual banking tools to one of one of the largest and most profitable banks in the region.

Today, NBK, which is  the leading bank in Kuwait and the highest rated in the Middle East,  boasts the largest presence in Kuwait with 67 branches, which together with its growing international representation adds up to 166 branches worldwide. NBK’s international presence spans many of the world financial centers including London, Paris, Geneva, New York and Singapore, as well as in China (Shanghai) and Vietnam (Ho Chi Minh City). Meanwhile, the regional coverage extends to Lebanon, Jordan, Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, Turkey, and the UAE.

NBK has been consistently awarded the highest credit rating of all banks in the region from Moody's, Standard & Poor's, and Fitch Ratings. The Bank’s ratings are supported by its high capitalization, prudent lending policies and its systematic approach to risk management, in addition to the recognized excellence of its very stable management.

NBK's strong financial performance along with its unrivalled  ability to consistently expand its core operations, within and outside of Kuwait, earned the bank recognition not only as one of the top 50 safest banks in the world for the second consecutive year, but also pushed NBK up the rankings by 6 positions to number 38 on the list.

The Pioneering Founders

As a pioneering organization, NBK played a major role in the development and growth of the Kuwaiti economy since it was established by virue of the Ameri decree promulgating the incorporation of the first National Bank in Kuwait in May 19th 1952.
The occasion is just but fitting to pay tribute to those who have worked hard to make this dream a reality.. the selection of veteran Kuwaitil businessmen who were behind the creation of NBK and constituted its first board of directors:

• Ahmed Saud Al Khalid
• Khalid Zaid Al Khalid
• Khalid Abdulatif Al Hamad
• Khalifa Khalid Al Ghunaim
• Said Ali Said Sulaiman
• Abdul Aziz Hamad Al Sager
• Mohammed Abdul Al Mohsin Al-Kharafi
• Yousif Ahmed Al Ghanim
• Yousif Abdul Aziz Al Fulaij