MARKETING

Marketing Plan for National Bank of Kuwait

Overview

The NBK - National Bank of Kuwait is a shareholding company based on the public sector in Kuwait that offers different types of financial services such as banking, investment and financial services in Kuwait and around the world. Widely, the NBK is engaged in offering financial services, personal banking (i.e. credit cards, accounts based on interest and non-interest bearing, customer packages based on customization, online services and loans) including wealth and advisory management services to the corporate sector, an individual and customers based on institutional. There are benefits of the corporate banking services (i.e. trade and structured finance, foreign and domestic corporate banking). In the centre of investment, performance funds, investment funds and management of assets are included. The National Bank of Kuwait (NBK) offers its services through different four channels that represent the divisions of the bank and work as primary such as Corporate, Personal, Investment and Private. The NBK has diversified its business that is related to international and regional network. These networks includes subsidiaries, branches and representative offices that are located in London, Geneva, New York, Jordan, Dubai, Bahrain, Paris, Lebanon, Turkey, Singapore, Saudi Arabia, Egypt and Iraq. The headquartered of NBK is located at Safat, Kuwait (Abolaji 2009, pp.05-12).

Achievements

The National Bank of Kuwait (NBK) is established in the year of 1952 that is worth of one million Kuwaiti Dinars today. In Kuwait, the NBK is the first shareholding company. It is the world's leading bank in United Arab Emirates (UAE) and today the NBK is going to cross its one million dollar profits. The NBK is considered as the highest rating bank in the Middle East. Among the safest banks in the entire world, the NBK has created its place. Among all the banks in North Africa and Middle East, the NBK enjoys the credit rating as highest (Abolaji 2009, pp.05-12). This bank is awarded in the year of 2007 as “The Best Bank of the Middle East for 2007” that was published in the magazine of Financial Times, “The Banker”.

Past analysis

The interest income of the NBK increased to 608.3 million of Kuwaiti Dinars in the year of 2007 and it shows the higher growth (i.e. 27%) as compared to previous year 2006. While interest expenses increased much higher from 2006 to 2007 (261.6 million KD to 324.7 million KD) that rose by the 50%. As a result, it impacted directly on the net interest margins and it dropped to 3.30% in the year of 2007. In contrast with 2006, the net interest margin was 4.15%. It is significantly important to observe that the profitability growth rate of NBK has slowed down during the year of 2007 since 2003. But the company's total assets were increased by the rate of 46% during 2007 and it worth 11.5 million KD while the total assets' worth was 7.90 million KD in the year of 2006.

Financial statistics

The NBK has won awarded as it is ambitious towards the plan ...