Corporate <strong>Bank</strong>ing‘Best Corporate <strong>Bank</strong> in <strong>2004</strong>’…NBK is an undisputed leader in the provision <strong>of</strong>integrated financial solutions to local <strong>and</strong> foreigncompanies doing business in <strong>Kuwait</strong>. We havebuilt a strong franchise by <strong>of</strong>fering uniqueexpertise, product scope <strong>and</strong> the highest st<strong>and</strong>ard<strong>of</strong> service to leading corporate customers, includinglarge oil corporations, government agencies,investment houses <strong>and</strong> other institutional clients.Our superior st<strong>and</strong>ing was confirmed by The<strong>Bank</strong>er Middle East award for ‘Best Corporate<strong>Bank</strong> in <strong>Kuwait</strong>’ for <strong>2004</strong>.The general business environment during <strong>2004</strong>was dynamic <strong>and</strong> focused on expansion <strong>and</strong>diversification by the corporate sector to benefitfrom the prosperity in the economy. Our Corporate<strong>Bank</strong>ing Group (CBG) was well positioned toproactively <strong>of</strong>fer appropriate solutions to eachmarket segment <strong>and</strong> support their growth, whileachieving aggressive growth targets. This helpedenhance our already strong position in thecorporate lending market where we hold thelargest portfolio <strong>of</strong> corporate debt in <strong>Kuwait</strong>, withthe highest quality.CBG’s leadership position is supported by long-established <strong>and</strong> recognisedexpertise in structuring complex transactions, with unrivalled placementpower. Our roster <strong>of</strong> corporate deals includes designing, arranging,underwriting, financing <strong>and</strong> advising major business groups on their local<strong>and</strong> foreign business activities <strong>and</strong> investments in the region. Suchtransactions included arranging the US$ 600 million facility to EquatePetrochemical Company for their expansion project, <strong>of</strong> which 50% was aconventional tranche whilst the other 50% was Islamic financing. The syndicationwas lead-managed by NBK <strong>and</strong> KFH, the country’s only Islamic bank.CBG works in collaboration with other business units at the <strong>Bank</strong> to meetthe total banking needs <strong>of</strong> customers, including investment banking <strong>and</strong>advisory services. An example is the private <strong>and</strong> public placement <strong>of</strong>Al-Jazeera Airlines Company, the first private air carrier in <strong>Kuwait</strong>. Anotherexample is the initial public <strong>of</strong>fering (IPO) to raise KD 99 million forAl-Qurain Petrochemical Company.Our trade finance activity exp<strong>and</strong>ed strongly during <strong>2004</strong>, fuelled by tradeactivity with Iraq <strong>and</strong> an upsurge in government spending. NBK’s role in theconsortium <strong>of</strong> banks, selected to manage the new Trade <strong>Bank</strong> <strong>of</strong> Iraq,further contributed to the volume <strong>of</strong> our business. Growth in oil exports alsohelped boost trade finance business. The unrivalled technical expertise <strong>of</strong>our Trade Finance team is demonstrated by Global Finance awarding NBKthe title <strong>of</strong> ‘Best Trade Finance <strong>Bank</strong> in <strong>Kuwait</strong> & the Middle East’ for <strong>2004</strong>.International companies doing business in <strong>Kuwait</strong> continue to choose NBKover other banks for their local banking needs, ensuring our overwhelmingdominance in the sector. The <strong>Bank</strong>’s leadership position can be attributed toour proven ability to provide real value to international corporates, withtailor-made financing packages. Adherence to the highest pr<strong>of</strong>essionalst<strong>and</strong>ards, our strong corporate relationships <strong>and</strong> our international presencehelped the foreign corporate unit win the business for almost all publicsector contracts awarded to international companies for yet another year.This also led many international companies involved in reconstruction <strong>and</strong>other business activity in Iraq to select NBK as their local banker.Our innovative products, including Watani Online Corporate (WOLC), aredesigned to match our corporate customers’ needs, whilst our financialstrength makes us a reliable partner for the markets in which they compete.CBG is well positioned to take advantage <strong>of</strong> future growth opportunities<strong>of</strong>fered by the large number <strong>of</strong> planned high-value projects expected in theinfrastructure <strong>and</strong> hydrocarbon sectors.Review <strong>of</strong> Activities <strong>2004</strong>12
NBK IS THE UNDISPUTED LEADER IN THE PROVISION OF INTEGRATED FINANCIAL SOLUTIONS TOLOCAL AND FOREIGN COMPANIES DOING BUSINESS IN KUWAIT. WE HAVE BUILT A FRANCHISE BYOFFERING DISTINCTIVE EXPERTISE, PRODUCT SCOPE AND THE HIGHEST STANDARD OF SERVICE,EXEMPLIFIED BY THE FINANCING DEAL ARRANGED FOR EQUATE PETROCHEMICAL COMPANY.13
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