The growing Kuwaiti NBK Banque Privée from Kuwait has had a presence in Switzerland since 1984. It has moved into new and substantially larger office premises in a historic building in Geneva.
NBK Banque Privée (Suisse), a Swiss subsidiary of the National Bank of Kuwait, is moving into Geneva's prestigious Hôtel de Banque on Rue de la Corraterie (pictured below), the company announced Wednesday. This historic complex, which combines three buildings in Geneva's banking district, has a total of more than 7,200 square meters of space.
Kuwait's NBK Group has been operating in Switzerland since 1984, initially in the form of a finance company before obtaining a banking license in 1999. Before moving to the banking district, the bank was based at Quai du Mont-Blanc. The bank is headed by Malek Khalife, who is also Deputy CEO of the Group's Global Private Banking, and deputy CEO Alex de Korodi.
Space for 100 Employees
(Image: NBK)
The Swiss bank has grown steadily over the past two decades as has the number of employees, which has risen from 15 in 2000 to 60 at present. With additional growth foreseen, the bank needed more room, and the new office has space for 100 employees. Between 2000 and 2022, assets under management increased from 1.9 billion Swiss francs to more than 8 billion Swiss francs today.
The Swiss unit of the NBK Group offers private banking and wealth planning services to clients mainly from Kuwait and other Gulf states including Saudi Arabia, Qatar, Bahrain, United Arab Emirates. Other target markets include Egypt, Jordan, and to a lesser extent Lebanon.
