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"For the first time, Global Finance Magazine has awarded honorary positions to two banks; National Bank of Abu Dhabi and Northern Trust,"
said the magazine.
"These banks' aggregate credit ratings were the same as those banks toward the bottom of the safest 50, but their total assets were lower," it added in its survey on the world's safest banks mid-2009.
The Ranking aims to table financial institutions with the highest rating from the leading credit rating agencies; however, it is constructed based on size and credit quality. Where banks were rated equally by all three ratings agencies, the largest of the banks were awarded the highest ranking.
"We are delighted that NBAD has been recognized as one of world's safest banks and the safest bank in the UAE," said Mr. Michael Tomalin, NBAD's Chief Executive.
"Being ranked as one of world's safest banks during a period of unprecedented market turbulence further confirms the NBAD's prudent policies" said Mr. Abdulla M.S. AbdulRaheem, Senior General Manager and Group Chief Operating Officer.
Posted by Nadeen El Ajou
