Annual Report and Accounts 2004 - National Bank of Kuwait

The Bank’s market edge is enhanced by our proximity to clients through anextensive local branch network and the only significant internationalnetwork of branches and subsidiaries. This network includes the whollyowned Geneva-based subsidiary, National Bank of Kuwait (Suisse), which ispositioned to offer our clients the confidentiality and security characterisingSwiss banking and more.Wealth management delivers its services through several business units,each focused and dedicated to offering appropriate solutions for differentinvestor groups. The business units are committed to offer high networth,institutional and retail clients a broad range of investment productsand services, including personalised wealth management services,separately managed accounts, mutual and Islamic funds, offshore trustand real estate services.Wealth ManagementDistinctive investment solutions…NBK maintained its unique and leading positionin wealth management, stemming from ourability to combine tradition, innovation and activemanagement, and to offer our clients a uniqueapproach. Our distinctive offering is confirmed bythe latest award we received from Euromoney,the reputable financial magazine, naming NBK as‘Best Private Bank in Kuwait’.Wealth management includes two major businesslines: Private Banking and Asset Management.Collaborative teams of skilled professionals fromboth areas work together to help individualclients achieve their aspirations. Our highlytrained and experienced officers are dedicated todevising solutions that meet their clients’ shortandlong-term investment targets. Our approachmakes use of state-of-the-art tools to designdistinctive investment strategies and assetallocation based on each client’s individual risktolerance, profile and performance targets.NBK Private Banking extends a comprehensive range of banking andinvestment products and services to a broad customer base of high networthindividuals and families. Our relationships are long-standing and span severalgenerations. Our focus is to understand and satisfy our clients’ varied financialrequirements with superior service and attractive long-term returns. Servicesinclude offshore trusts and real estate services that offer expert advice andassistance across a broad spectrum of requirements – including buying, sellingand renting property throughout Lebanon, France, the UK, and the US.National Bank of Kuwait (Suisse) SA, based in Geneva is NBK’s whollyowned private banking subsidiary that caters to the needs of high networthindividuals and wealthy families. NBK Suisse (NBKS) offers a broad range ofhigh quality portfolio management and advisory services, custodianship,family trusts and foundations. In 2004, NBKS continued its progress towardsbuilding a unique open architecture platform of investment products usingstate-of-the-art infrastructure for portfolio management and client reporting.NBKS also signed advisory agreements with leading financial consultantsand investment houses to ensure a quality and flexible structure ofinnovative investment vehicles. Last year saw NBKS achieve outstandingresults, despite the challenging market environment, and move a step closertowards its goal of becoming the premier Swiss-based family office for theMiddle Eastern market.NBK Investment Management Ltd (NBKIM), based in London, caters toinstitutional investors, based on discretionary investment mandates. Thisjoint venture with Morgan Stanley has produced good results for our clients,as most managed portfolios have outperformed their respective benchmarks.NBK Global Asset Management (NBK GAM) offers a broad spectrum ofinvestment solutions matching various clients’ profiles and objectives. Thesesolutions involve a variety of asset classes including money market funds,bond funds, equity funds, Islamic real estate funds and alternative investments.15