National Bank of Yemen Rates

National Bank of Yemen ended another successful year by accomplishing good rates of growth in most of its financial ratios and recording YR 1115 million in profit before taxation with an increase of 6.1% over last year's profit. The Bank continued also to strengthen its financial position by increasing the owner's equity by YR 250 million from the owner's share in the net profit of the year.

On the other hand, it is my pleasure to announce that due to the strength of the Bank's assets and the relations it enjoys with correspondent banks and customers, Capital Intelligence has upgraded the Bank's foreign currency ratings to (- B) long term, (B) short term, the financial rating increased to (- BB) and the rating Outlook as "stable", and this rating is close to the ratings of some of the major Banks in the Gulf States.