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The
Banker Magazine, one of the Financial Times Group magazines
issued in United Kingdom judged National Bank of Yemen for the
Banker’s Award as (Bank of the Year 2007, Yemen) for the second
consecutive year. This is an internationally distinguish award;
which has over the years become one of the most important events
that occupies a prominent position at international banking
industry level, and it is awarded to the best banks in 130
countries, including Global Bank of the Year. In addition
includes awards in emerging markets, cash management, securities
services and two environmental social governance (as well as a
chief information officer award. Together these winners
represent the best commercial banking performance and the most
important banking across the globe.
Sakina Abdulhussein Mohamed Manager Foreign Relations
Department And Mr. Esam Ahmed Alawi Al Skaf Manager
Treasury Department delegates of National Bank of Yemen
received The Award. at the annual function held for
distribution of the Banker’s Award at the Dorchester
Hotel – London on 28 November, 2007 in the presence of a
large number of directors of the boards, senior managers
of banks and financial institutions from all parts of
the world.
On this occasion it was announced in the press release
by The Banker in its issue of December, 2007, that the
National Bank of Yemen had achieved another successful
year through its series of distinguished achievements in
all items of the bank's balance sheet. The bank's assets
grew by 25.8% and net profits recorded an increase of
30.2%, hence the shareholders’ equity was raised from
27.6% (2005) to 28.3% (2006). In addition the bank’s
capital adequacy was raised to 35.2%.
The magazine stated that these financial achievements
contributed to strengthening and consolidating the
bank's financial position and improvement of its
profitability indicators. It also strengthened its place
in the Yemeni banking market as one of the effective
financial institutions which enjoys great potential for
growth and achievements and value added to the
shareholders (Yemeni Government).
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(Middle) International Relations Manager And Exchequer Manager
of National Bank of Yemen, receiving the
Bank of the Year- Yemen award. From right to
left: Michael Burk, BBC Correspondent, and
Brian Caplem, Editor, Banker Magazine. |
The magazine further stated that these achievements were
in confirmation to the report issued in October, 2007 by
the Capital Intelligence which is based in Cyprus. The
Capital Intelligence which is specialized in rating
banks in the Emerging Markets rated National Bank of
Yemen (BB) for its financial strength which the highest
rating among Yemeni banks.
On the occasion of winning the Bank of the year Yemen
award ,2007, for the second year, Mr. Abdulrahman
Mohammed Al Kuhali the Chairman of the Board of
Directors and General Manager of The Bank stated to the
magazine: ‘the bank's winning the Award for the second
consecutive year reflects the right path that the bank
has outlined in its strategies and its modernization and
development which is now in its final stages of
implementation’.
He added: that the National Bank of Yemen is committed
to attaining quality in its services and products
according international standards, and to realizing the
goals and expectations of all parties concerned in the
welfare of the bank within the domain of comprehensive
benefit of the society and Yemeni economy.
The Banker’s Awards 2007
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National Bank of Yemen