NBK meaning in Banking ?
Answer: What is National Bank of Kuwait mean?
The National Bank of Kuwait (NBK) was founded in 1952. It is the largest financial institution in Kuwait, with branches and subsidiaries in China, Geneva, London, Paris, New York, and Singapore, and a regional presence across the Middle East in Lebanon, Jordan, Egypt, Bahrain, Saudi Arabia, Iraq, Turkey, and the UAE.
The group reported a net profit after non-controlling interests of KD 370.7 million compared to KD 322.4 million for 2017, an increase of 15%. Operating profit amounted to KD 606.9 million as compared to KD 557.2 million in 2017, an increase of 8.9%. Net interest income and net income from Islamic financing at KD 690.5 million reflects a 9.8% increase on 2017 (KD 629 million). Net fees and commissions at KD 150.2 million reflects a 8.4% increase on 2017 (KD 138.6 million). Net gains from dealing in foreign currencies amounted to KD 39 million in 2018 as compared to KD 33.7 million in 2017. Operating expenses amounted to KD 276.3 million as compared to KD 265.4 million in 2017. The cost to income ratio for 2018 improved to 31.3% as compared to 32.3% in 2017. Provision charge for credit losses and impairment losses amounted to KD 179.7 million as compared to KD 188.2 million in 2017. The return on average equity at 12% in 2018 compared to 10.8% in 2017.
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