Increase of World grading of Yemeni National Bank [Archives:2004/732/Local News]

National Bank of Yemen issued a 68-page book regarding the annual report of 2003 consisting of several sections. It contains the Financial and Statistical Highlights, the Board of Directors Report, the Auditors Report, the Statement of Income & Profit Appropriation, the Statement of Cash Flows, the Statement of Changes in Equity Owners and Notes to the Financial Statements.
In a statement to Yemen Times, Mr. Abdulrahman Al-Kuhaly, Chief Executive Officer and Director-General of Yemen National Bank, said, “The Yemeni National Bank during 2003 achieved noticeable growth in its financial indicators in spite of the dominant stances facing the banking world and intensity of competition among banks.”
He added that due to the durability of bank assets and its relations with clients and correspondents, the bank monitoring agency, Capital Intelligence, increased rank of the foreign currency long-term and short-term dealings of the National Bank from category C to B and the strong financial position of the bank from B to BB.
Mr. Al-Kuhaly concluded his statement by thanking the staff and employees at Yemen National Bank for their efforts exerted to achieve these successes.
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