Safest Bank: National Bank of Kuwait (No. 47)
Under the supervision of Kuwait’s central bank there are five commercial banks, six Islamic banks* and one specialized bank, along with nine international branch banks incorporated within the country, as of July 2010.
According to the central bank, The National Bank of Kuwait operates 75 branches within the country and 14 branch offices abroad. The Bank holds an A+ rating from S&P, an AA- rating from Fitch, and an Aa3 rating from Moody’s.
According to the company’s full-year 2010 statements, the bank recorded $1.07 billion in profits and listed approximately $46 billion in assets, which comprises more than one-third of the Kuwaiti financial system.
*Islamic banks specifically cater their business to adhere to Islamic laws.