Global Finance, the prestigious international financial magazine, has ranked NBAD in its World’s 50 Safest Banks for the sixth consecutive year. This year, NBAD ranks 25th in the world’s 50 safest banks, up 10 positions from the previous year.
Global Finance’s annual ranking of the world’s 50 safest banks is a recognised and trusted standard of creditworthiness for the entire financial world.
“We are very proud to once again be listed among the world’s 50 safest Banks and the safest in the emerging markets and Middle East, especially as we have moved up 10 positions in the rankings during a period of significant change and increasing regulation,” said Alex Thursby, the Group Chief Executive Officer of NBAD.
“This recognition reflects the successful execution of our strategy and our continuous focus on safety. NBAD’s strong credit ratings, combined with the Bank’s ranking amongst the world’s 50 safest banks, will serve us well as we execute our strategic growth objectives across the West-East Corridor.” Mr. Thursby said.
Global Finance selects banks for this list through an evaluation of long-term credit ratings from Moody’s, Standard and Poor’s, and Fitch and total assets of the 500 largest banks worldwide.
“With geopolitical risk rising in some markets and globalisation continuing apace, it is essential for companies to work with banking partners they know they can trust. This ranking offers companies an objective tool for evaluating the stability and security of the world’s banks both globally and by region,” says Joseph D. Giarraputo, Publisher of Global Finance.
Regarding the top safest banks in the Emerging Markets, in which NBAD ranked highest, Mr. Giarraputo says, “This ranking is an invaluable tool for companies to evaluate institutional strength in fast-growing, but volatile, emerging markets.” James Burdett, the Group Chief Financial Officer of NBAD, said, “NBAD continues to focus on generating solid returns whilst maintaining a conservative approach to banking. Our recognition as one of the safest banks in the world by Global Finance is due to a number of factors, including the strength of our balance sheet, our solid capital position, our high levels of liquidity and our prudent approach to risk management. We will continue to maintain a safe and conservative approach as we execute against our ambitious growth strategy going forward.” NBAD’s long term ratings are amongst the strongest combined ratings of any financial institution in the world with ratings from Moody’s Aa3, Standard and Poor’s (S&P) A+, Fitch AA-, RAM (Malaysia) AAA, R&I’s (Japan) rating of A+.
Source : WAM News Agency for United Arab Emirates
