National Bank of Kuwait (NBK) has been named the Best Bank for Treasury and Cash Management in Kuwait for 2023 by Global Finance.
Through its annual survey that includes input from hundreds of industry analysts, corporate executives, and technological experts, Global Finance names the Best Treasury and Cash Management financial institutions in the world.
Global Finance considers a variety of objective criteria in selecting the winners, including profitability, market share and reach, customer service, competitive pricing, product innovation and the extent to which treasury and cash management providers have successfully differentiated themselves from their competitors around core service provision.
Global Finance announced the winners of the Best Treasury and Cash Management Bank Award in 72 countries and territories as well as regionally across four categories in Africa, Asia-Pacific, Central and Eastern Europe, Latin America, the Middle East, North America and Western Europe, and by US Region.
This year’s announcement came against the backdrop of a number of global difficulties, including persistent supply chain bottlenecks and the unprecedented rise in global inflation where smart management of cash and Treasury systems has become more important than ever. Furthermore, this award honors the organizations that best serve their clients in unpredictable times.
NBK was acknowledged as one of the best banks in the world and the Middle East in providing Treasury and cash management services among a group of major international banks and financial institutions including Citibank, BBVA and Société Générale.
This prestigious award stands testament to the Bank’s leading position, across the local and regional markets, in providing the best innovative banking solutions to its customers. NBK continues to reap the benefits of its large investments in developing its infrastructure and cutting-edge technologies, and offering the best services to its customers, in addition to investing in its human capital and building a team of highly regarded professionals in the banking industry.
This award is also a testament to the Treasury Group’s unrelenting efforts to improve operational efficiency and deliver excellent customer service through the implementation of numerous initiatives.
The Treasury Group is continuously seeking to uplift its technologies and infrastructure to reduce costs while providing the best services to its customers. Furthermore, the development of the Treasury Group’s strong digital foundation has allowed NBK to manage liquidity more efficiently and accurately, as well as a hedge against the risks of interest rate fluctuations and foreign exchange exposure, resulting in informed cash management decisions and more effective use of the Bank’s resources to improve profitability.