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Sun 22 Nov 2009 12:41 PM

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The Middle East’s 25 smartest banks-National Bank of Abu Dhabi

The Middle East’s 25 smartest banks-National Bank of Abu Dhabi

National Bank of Abu Dhabi

boasts one of the strongest combined ratings of any Middle Eastern financial institution. Indeed, it last month had the privilege of being named one of the World's Safest Banks by Global Finance magazine, based on a survey of its credit ratings and the strength of its deposits.

NBAD

has a network of 90 branches in the UAE in addition to cash offices that provide banking services to customers stationed at offshore oil operations and in desert locations as well as other government organisations. Its overseas network stretches from Oman, Kuwait, and Bahrain in the GCC, Egypt, Libya, and Sudan in Africa, London, Paris and Geneva in Europe to Washington DC in the US.

NBAD

's long-term ratings are: Moody's ‘Aa3', S&P ‘A+' and Fitch ‘AA-'. This is one of the strongest combined ratings among any of the Middle Eastern and North African (MENA) financial institutions, and compares to UAE sovereign ratings of Moody's ‘Aa2', S&P ‘AA' and Fitch ‘AA' (S&P and Fitch rating for emirate of Abu Dhabi).

 

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