Total assets grew by 26.8%, net profit registered 30.2% growth, while RoE increased from 27.6% in 2005 to 28.3% in 2006. Tier 1 capital was also up, at 35.2%.
These financial accomplishments in 2006 contributed towards the strengthening and consolidation of the bank’s financial position, improving its profitability ratios and confirming its position in the Yemeni banking market as an effective financial institution with great potential for growth and value-added for shareholders, the government of Yemen. These achievements were affirmed by a Capital Intelligence report, November 2007, which gave the bank a BB rating for its financial strength, the highest in Yemen.
Chairman Abdul Rahman M Al Kohali says: “The Banker award is a reflection of the right path that the bank has outlined in its strategies, and its modernisation and development project, which is now in its final stage of implementation.
“The National Bank of Yemen is committed to attaining quality in its services and products in accordance with international standards, and to realising the goals and expectations of all parties concerned in the welfare of the bank within the domain of the comprehensive benefit of the society and the Yemeni economy.”
