National Bank of Kuwait SAK history, profile and history video
National Bank of Kuwait SAK is engaged in the banking business. It provides financial and investment solutions. It operates through the following segments: Consumer and Private Banking, Corporate Banking, Investment Banking and Asset Management, Islamic Banking, Group Centre, and International. The Consumer and Private Banking segment offers consumer loans, credit cards, deposits, foreign exchange, and other branch-related services. The Corporate Banking segment includes lending, deposits, trade finance, foreign exchange, and advisory services. The Investment Banking and Asset Management segment handles capital market advisory and execution, wealth management, custody, brokerage, and research. The Islamic Banking segment covers activities performed by Boubyan Bank, a subsidiary of the company. The Group Centre segment consists of treasury and investments. The International segment is comprised of international branches, subsidiaries, and associations operations. The company was founded by Khalid Zaid Al- Khalid, Ahmed Saud Al-Khaled, Khalifa Khalid Al-Ghunaim, Khaled Abdullatif Al-Hamad, Sayed Ali Sayed Sulieman Al-Rifai, Yousef Abdulziz Al-Fulaij, Yousef Ahmed Al-Ghanim, Mohamed Abdulmohsen Al-Khorafi, and Abdulaziz Hamad Al-Sager on May 19, 1952 and is headquartered in Safat, Kuwait.“
“National Bank of Kuwait History
Foundation of National Bank of Kuwait started in 1952 when a prominent Kuwaiti merchant went to the British Bank of the ME to open a Letter of Guarantee for the amount of 10,000 Indian Rupees, (which is equivalent today to 750 KD). Much to his surprise, his request was rejected, on the condition he provides a guarantor. This well known merchant was shocked and appalled by the treatment that he had received, and news of this was all over town.
NBK founders are:
- Khalid Zaid Al- Khalid
- Ahmed Saud Al-Khaled
- Khalifa Khalid Al-Ghunaim
- Khaled Abdullatif Al-Hamad
- Sayed Ali Sayed Sulieman Al-Rifai
- Yousef Abdulziz Al-Fulaij
- Yousef Ahmed Al-Ghanim
- Mohamed Abdulmohsen Al-Khorafi
- Abdulaziz Hamad Al-Sager
NBK was the first national bank in Kuwait and the entire Arabian Gulf region. All the board members and the founders of NBK were renowned merchants of Kuwaiti origin. NBK was established with a capital of 13,100 shares, each valued 1,000 Rupee equivalent to KD 75 today. Over the years NBK has proved itself to be a financial leader in the Arab world.”
*Information from Forbes.com and Nbk.com
**Video published on YouTube by “Phoenix Media Production“