National Bank of Yemen has been adjudged "Bank of the Year 2006– Yemen" by The Banker Magazine, one of the most widely read and respected financial publications worldwide and is part of the UK-based Financial Times Group. The Award ceremony took place in the Dorchester Hotel, London on 30th November 2006. Mr. Abdul Rahman Mohamed Al Kohali, Chairman of National Bank of Yemen accepted the award during The Banker Awards 2006 gala ceremony. Chairmen, CEOs, and top officials representing the banks and financial institutions from around the world attended the ceremony.

On the occasion of the award, Chairman Abdul Rahman M Al Kohali said: "Receiving The Banker Award reflects NBY’s high standard of performance and competitive edge in all banking activities and practices. Such an achievement will constitute a driving force to proceed further in our development strategy to meet the needs of our customers, and confirms the confidence our customers have in us as a trusted, financial institution. NBY will continue in 2007 its bold and pioneering strategy which has positioned it as the first choice for the customers in Yemen’.

A news release by The Banker said: "National Bank of Yemen produced outstanding figures for 2005 with an impressive 48.9% growth in net income and a high RoE, rising to 24.9% from 20.9% the previous year.

The good performance is attributed to excellent local resources, efficient management, excellent correspondent relations and a conservative lending policy that has resulted in improving asset quality and better results.

The strong growth has continued into 2006 where net profits before tax grew by 38.8% for the first six months of the year."

The statement by The Banker noted also that: "The Cyprus-based rating agency Capital Intelligence has affirmed in October 2006 that the NBY's long and short-term foreign currency ratings were –B and B respectively, while the outlook remains "stable" with financial strength at BB. These ratings reflect the improvement of the bank’s overall financials, particularly profitability, asset quality and capitalization."

The Banker Awards listing provides awards in 137 countries along with eight regional awards including Global Bank of the Year. The Banker Awards also include awards in cash management and securities services, together with two corporate social responsibility commendations.

Together they represent the best commercial banking performances across the globe.