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National Bank of Kuwait (NBK) SWOT & PESTLE Analysis

ID : 52983753| Jun 2021| 20 pages

COMPANY PROFILE -National Bank of Kuwait (v)

Business Sector :Banking and Financial Services

Operating Geography :Kuwait, Middle East, Global

About National Bank of Kuwait (v) :

Headquartered in Kuwait City, Kuwait, the National Bank of Kuwait (NBK) was founded in 1952 and is the largest financial institution in Kuwait. The Bank has its branches and subsidiaries located in Singapore, Geneva, China, London, Paris and New York, along with a regional presence across the Middle East in Lebanon, Bahrain, Jordan, Egypt, Iraq, Saudi Arabia, Turkey, and the UAE. Along with being the first indigenous bank, NBK is also the first shareholding company in the entire Gulf region. The bank has always been known as ‘The Bank You Know and Trust’. NBK started operating through a small branch on 15 November 1952, after the idea of the National Bank of Kuwait was introduced in a meeting conducted with the Amir of Kuwait, Abdullah Al Salem Al Sabah, who proclaimed a decree on 19 May 1952 to establish the National Bank of Kuwait. NBK then grew to be one of the largest banks in the region and was also the first national bank in Kuwait and the entire Arabian Gulf region. NBK has been renowned as the Best Bank in Kuwait by Global Finance from 2014 to 2021 consistently.
NBK's unique selling proposition or USP lies in it being Kuwait’s largest overseas branch network ranging over many of the world financial and business centres. National Bank of Kuwait’ vision statement reads, "The NBK vision is to be the trusted bank of choice, building on our core values, people and expertise." While its mission statement is "To deliver world-class products and the highest quality service to our customers."

National Bank of Kuwait (v) Revenue :


Net Operating Income
US$ 2,953 million - FY ending 31st December 2020 (y-o-y growth -6%)
US$ 2,778 million - FY ending 31st December 2019

Competitive Analysis of National Bank of Kuwait (v)

SWOT
PESTLE
The SWOT analysis for National Bank of Kuwait (NBK) is presented below in a matrix followed by the detailed analysis report:
StrengthsWeaknesses
1. Recognized as the most valuable banking brand in Kuwait with top credit ratings
2. Reconcilable financial performance and strong balance sheet
3. Only domestic player to provide both conventional and Islamic banking
4. Leading banking group in Kuwait in terms of assets, deposits and loans and advances and holds dominant market position
5. Strong regional brand presence in Middle East
1. Negligible international presence outside MENA
OpportunitiesThreats
1. Growing international presence in Europe and Asia.
2. Broadening range for product and service offerings.
3. Attracting small and medium enterprises as a new customer segment.
4. Great potential for Islamic banking, estimated to hold around 40% of assets.
1. OPEC production cuts lowering interest rates
2. Increasing competition in the banking sector of Kuwait
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of National Bank of Kuwait (v)

Strength

1. Recognized as the most valuable banking brand in Kuwait with top credit ratings: National Bank of Kuwait is a prestigious entity in Kuwait. It is credited to receive a number of top accolades and awards throughout the year. Kuwait is also ranked first for its macroeconomic stability by the world economic forum in 2019. The Group has also been ranked amongst the 50 safest banks in the world by Global Finance and top 10 bank in the region by Brand Finance in 2020. NBK has been awarded as the Best Emerging Markets Banks in the world in the year 2019 by Global Finance which is the first bank named in Kuwait. It is considered a banking leader in the commercial banking sector with highest credit ratings in Kuwait. The Group has been ranked A1, A and AA- in Long Term rating by Moody’s S&P and Fitch Ratings respectively as of 2020.

2. Reconcilable financial performance and strong balance sheet: In the past few years, the group has shown a significant growth in its business. For the fiscal year 2019, NBK reported a net profit of KD 401.3 million, an increase of 8.2% from the previous year. The Operating Surplus declined by 2.6% to KD 591.2 million, mainly due to tighter margins and increased level of spending. Business volumes showed satisfactory result, with total assets growing by 6.7% to KD 29.3 billion. Loans and Islamic financing increased by 6.8% to KD 16.6 billion, while customer deposits grew by 10.7% to KD 15.9 billion. The tighter net interest margin assisted largely to contradict the earnings impact of higher business volumes, hence restricting growth in net interest income. However, non-interest income saw a significant growth of 7.0%, mainly deriving its income from core operating banking activities.

The remaining section under "Strength" is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threat

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

Major Brands :

  • Al Watany Bank of Egypt
  • Boubyan Bank
  • NBK Capital
  • National Bank of Kuwait (International) Plc
  • NBK Banque Privee (Suisse) S.A.
  • Al Watani Financial Brokerage Company
  • National Bank of Kuwait (Lebanon) SAL
  • National Investors Group Holdings Limit
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References used in National Bank of Kuwait (v) SWOT & PESTLE Analysis Report

1. Financial Reports - https://www.nbk.com/nbk-group/investor-relations/financial-reports.html

2. The Middle East's Most Valuable Banking Brands - https://brandfinance.com/press-releases/the-middle-easts-most-valuable-banking-brands#:~:text=NBK%20tops%20the%20list%20of,culture%20and%20good%20customer%20relations.

3. Kuwait is not far from effects of US-China trade war - http://www.arabtimesonline.com/news/kuwait-is-not-far-from-effects-of-us-china-trade-war/

4. Kuwait’s government faces uphill battle amid political tensions - https://thearabweekly.com/kuwaits-government-faces-uphill-battle-amid-political-tensions

5. Gulf economies face a fight for survival as impact of coronavirus bites - https://www.trtworld.com/magazine/gulf-economies-face-a-fight-for-survival-as-impact-of-coronavirus-bites-36277

The detailed complete set of references are available on request in the 'Complete report' on purchase.

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SWOT & PESTLE.com (2021). National Bank of Kuwait (NBK) SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/national-bank-of-kuwait/ [Accessed 03 Aug, 2021].

In-text: (SWOT & PESTLE.com, 2021)

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National Bank of Kuwait SWOT and PESTLE analysis has been conducted by Anjali Ladwal and reviewed by senior analysts from Barakaat Consulting.

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