News
31-07-2007: Bank Muscat joins SPAN
The newest member to SPAN is now Bank Muscat to be the 14th bank in the network, Bank Muscat recently started its operations in the kingdom through its first branch in Riyadh. With assets worth over USD 8.5 billion, Bank Muscat is the largest bank in Oman today with a strong presence in Corporate Banking, Consumer Banking, Investment Banking, Treasury, Private Banking, Project Finance and Asset Management. The Bank has a network of over 101 branches and over 240 ATMs in Oman and a representative office in Dubai (UAE). BankMuscat also has a strategic stake in Centurion Bank of Punjab, one of the largest private sector bank in India, and has a 49% stake in BankMuscat International (BMI), an independent banking entity in Bahrain that is focused on becoming a truly GCC regional bank. The Bank has also recently opened its operations in the Kingdom of Saudi Arabia.
16-12-2006: National Bank of Kuwait joins SPAN
The National Bank of Kuwait (NBK) joined SPAN today and by this all NBK clients in the Kingdom can use their cards at any ATM or POS terminal throughout the country and benefit of the many services provided by SPAN. Since its foundation in 1952 as the first national bank and the first joint stock company in the Gulf Region, NBK has been known as 'The Bank You Know And Trust'. It has been an unbroken record of rising profits reaching $876 million in 2006, and an ROE of 38.6 percent. NBK is amongst the most valuable Arab companies with a market capitalization of $14.7 billion as of end 2006.
NBK is by far the largest and most dominant financial institution in Kuwait. It also enjoys the highest credit rating in the Middle East. Among Arab banks, NBK has the most extensive regional and international network, which includes branches, subsidiaries and representative offices in New York, London, Paris, Geneva, Lebanon, Jordan, Bahrain, Qatar, Singapore, China, Iraq and Saudi Arabia.