National Bank of Kuwait (NBK) was named “Best Trade Finance Bank in Kuwait for 2021” in the annual survey of Global Trade Review (GTR), a magazine specializing in global emerging markets and trade, commodity finance, and transaction banking.
GTR selected NBK as one of the leading banks in the Middle East and North Africa (MENA) region in the sector of trade finance based on customer and market-specialized institution surveys conducted around the world.
The GTR Leaders in Trade awards recognize excellence in trade, commodity, supply chain, and export financing, as well as fintech markets.
Despite the obstacles created by the COVID-19 pandemic on global trade, NBK contributed to mitigating its impacts by continuing to provide trade finance services to various customer sectors to weather the crisis, with priority given to medical supplies and foodstuff.
The bank also continued to lead important syndicated financings and provide banking facilities for big projects in a variety of sectors, including the oil sector, with the most recent syndicated facilities arranged for Kuwait Petroleum Corporation (KPC) amounting to $3.3 billion.
Furthermore, the bank fully utilized its global platform and extensive network to assist its customers to ensure their transactions are made, despite working remotely, and the interruptions in global supply chains caused by the pandemic.
GTR is a well-known international trade finance magazine that produces reports and analyses on trade export, commodity, and supply chain finance, as well as trade credit insurance, treasury, and fintech markets.
Each year GTR recognizes the market’s pioneering institutions and top performers from all over the world in the GTR Leaders in Trade Awards and GTR Best Deals Awards.