'The Banker' names NBK Best Bank in the ME for 2004

Mr. Ibrahim S. Dabdoub, Chief Executive Officer at NBK said that wining the awards reassures NBK's achievements and developments locally and regionally. 'We are maintaining our lead in the region in terms of quality and breadth of services with an emphasis on using the latest banking technologies,' he added. NBK has recently reported a net profit of $ 221 million for the first half of 2004.

The Banker attributes this achievement to NBK's significant increase on profits year on year. From a regional perspective NBK has acquired a stake in Grindlays Qatar Bank in addition to management rights. It also inaugurated a new branch in Amman, Jordan. In addition to Jordan and Qatar, the Bank's international network spans London, New York, Geneva, Paris, Lebanon, Bahrain, Singapore, Vietnam and Thailand. NBK had also announced plans to establish a new branch in Jeddah (Saudi Arabia) later this year, in addition to a representative office in China. More importantly NBK is one of three banks only to be granted entry into the Iraqi market despite recent difficulties.