has multiple issues . please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article does not cite any sources . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . september 2009 learn how and when to remove this template message this article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . march 2012 learn how and when to remove this template message learn how and when to remove this template message national bank of kuwait type public industry banking founded 1952 ; 64 years ago 1952 founders consortium of kuwaiti merchants headquarters kuwait city kuwait key people shaikha k. al bahar ceo revenue 2.22 billion usd 2013 operating income 1.49 billion usd 2013 net income 844 million usd 2013 website www.nbk.com the national bank of kuwait nbk was incorporated in 1952 as the first local bank and the first shareholding company in kuwait and the persian gulf region . contents 1 history and profile 1.1 subsidiaries 1.2 investment in associates 1.3 nbk international advisory board 1.3.1 nbk chairmen 2 references 3 external links history and profile edit foundation of national bank of kuwait started in 1952 when a prominent kuwaiti merchant went to the british bank of the me to open a letter of guarantee for the amount of 10 000 indian rupees which is equivalent today to 50 kd . much to his surprise his request was rejected on the condition he provides a guarantor . this well known merchant was shocked and appalled by the treatment that he had received and news of this was all over town . this incident gave rise to the question and the idea of having a national bank with a mission to serve the national needs as its priority help the economic growth of the country and look after the savings of its clients . in fact a meeting was held with the late amir of kuwait abdullah al salem al sabah who congratulated them on the idea and promised them his complete support . an amiri decree was issued on 19 may 1952 to establish the national bank of kuwait and nbk started operating through a small branch on 15 november 1952 within a total space of three shops and a handful of employees relying on traditional and manual banking tools . today nbk is one of the largest and most profitable banks in the region . nbk reported net profits of usd 844 million kd238 .1 million in 2013 . today nbk which is the largest financial institution in kuwait with effective market dominance in the commercial banking market boasts the largest presence in kuwait with 67 branches which together with its growing international representation adds up to more than 163 branches worldwide . nbk also stands out in terms of its local and international network which includes branches subsidiaries and representative offices in geneva london paris new york singapore and china alongside its regional presence in lebanon jordan iraq egypt bahrain qatar saudi arabia uae and turkey . subsidiaries edit national bank of kuwait in baker street london bank boubyan is 58.6 % owned by the bank . it was established in 2004 . nbk international plc united kingdom is a wholly owned subsidiary of the bank with two offices in london and one is paris which provides retail private and corporate banking treasury and trade finance related services . nbk lebanon s.a.l. lebanon is 85.5 % owned by the bank and provides retail commercial and private banking and real estate related services through a network of ten branches . nbk banque privee suisse s.a. switzerland is a wholly owned subsidiary of the bank headquartered in geneva . in addition to traditional banking services it provides portfolio management services family trust advisory and custody services to individuals with high net worth . credit bank of iraq s.a. iraq is 75 % owned by the bank and provides retail and commercial banking services through a network of fourteen branches in iraq . nbk investment management limited united kingdom is a wholly owned subsidiary of the bank and provides asset management services to kuwaiti government agencies and high net worth customers . national investors group holdings limited cayman islands is a wholly owned subsidiary of the bank and was established as an investment company . nbk capital company kuwait is 99.9 % owned by the bank and was established in july 2005 as a subsidiary of nbk . nbk capital focuses on four principal lines of business alternative investments asset management brokerage & research and investment banking . offices in kuwait dubai turkey and cairo . al watany bank of egypt s.a.e. is 98.5 % owned of the bank and provides retail private and corporate banking treasury and trade finance related services . watani financial brokerage company is 86.7 % owned of the bank and provides brokerage services . investment in associates edit international bank of qatar ibq the affiliate of nbk in qatar is owned 30 % owned by the bank . it is one of the oldest financial institutions in qatar and celebrated its 50th anniversary in 2006 . it has a network of many branches and service centers and atms in strategic locations throughout qatar . it offers a range of corporate private and retail banking products and services . this operation was sold early in 2015 . turkish bank is 30 % owned by the bank . nbk international advisory board edit nbk was the first bank in the middle east to establish an international advisory board setting a precedent for banks and financial institutions in the region . the bank s international advisory board which was established in 2007 brings together an impressive array of distinguished world figures in the fields of politics economics and business and the bankers roundtable has evolved into a significant subgroup in its own right comprising the banking and financial specialist contingent of the parent advisory board . nbk chairmen edit 1952 1955 khalid al zaid al khalid 1956 1958 ahmed saud al khalid 1959 1964 abdulaziz hamad al sager 1965 1979 yaqoub youssef al hamad 1980 1992 mohammed abdulmohsin al kharafi 1993 2014 mohammed abdulrahman al bahar 2014 nasser mousad al sayer references edit company overview report on bloomberg external links edit official website retrieved from https en.wikipedia.org w index.php title national bank of kuwait & oldid 744267306 categories banks established in 1952banks of kuwaithidden categories articles lacking sources from september 2009all articles lacking sourcesarticles with a promotional tone from march 2012all articles with a promotional tone navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent 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