TITLE

The major players

PUB. DATE
October 2003
SOURCE
Middle East;Oct2003, Issue 338, p41
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article presents a brief information about financial status of several banks in the Middle East as of October 2003. The National Bank of Kuwait (NBK), has the highest financial strength rating among emerging market banks according to several global rating agencies. During the first half of 2003, NBK's returns on equity and assets were 26.7% and 2.2%, respectively, high by industry standards. The Saudi British Bank (SABB) has growing/diverse franchises, ranging from personal, corporate to investment-brokerage businesses. In early 2003, SABB worked with the Gulf International Bank on the $4bn Saudi Telecom initial public offerings, the region's largest-ever privatization deal. The National Bank of Dubai, the most heavily capitalized of Arab banks, remains a market leader in technology and internal control mechanism and its credit processes are among the best in the UAE. Jordan-based Arab Bank is the only non-GCC bank that is truly a global player, with over 400 branches and offices spread across five continents.
ACCESSION #
10973213

 

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