NCB is Saudi Arabia’s most prominent bank
Founding and Legal Structure:
- The National Commercial Bank was the first Saudi bank to be licensed in the Kingdom. It is considered the largest in Saudi Arabia and a leading financial institution in the Region. The Bank initiated its business under the name of ‘‘The National Commercial Bank’’ following the Royal Decree on 20 Rabi Thani 1373H (26 December 1953).
- In 1999, the Government through the Public Investment Fund (PIF) acquired a majority holding in the Bank.
- The National Commercial Bank has 90.71% direct ownership of NCB Capital, its premier investment arm, and owns 67.03% of Türkiye Finans Katılım Bankası (TFKB), the leading participation bank in Turkey.
- NCB is one of the largest Banks in the Arab world. The Bank’s paid-up capital is SAR 20,000 million (US$ 5,333 million).
- Assets at year-end 2016 totaled SAR 441 Billion (US$ 118 billion).
- Net profit for the year 2016 totaled SAR 9,317 million (US$ 2,485 million).
- Shareholders’ Equity at year-end 2016 totaled SAR 58,738 million (US$ 15,663 million).
- Return on average Shareholder’s Equity for the fiscal year 2016 is 17.78%.
- Earnings per share for the year 2016 amounted to SAR 4.66 (US$ 1.24).
Key Facts & Figures:
- At year-end 2016, the Bank operated 374 branches throughout the Kingdom, dedicated exclusively to Islamic Banking services.
- At year-end 2016, the Bank’s clients exceeded 5 million.
- At year-end 2016, the Bank’s employees throughout the Kingdom reached a total of 8,035 and 94.8% of which are Saudis.
- At year-end 2016, the Bank has operated 3,189 Automated Teller Machines (ATMs) throughout the Kingdom.
- Over 94% of clients’ transactions had been successfully executed through alternative delivery channels during the year 2016.
- NCB is considered among the first Saudi companies that implemented the principle of Corporate Governance and the first bank in Saudi Arabia to receive International Certification on Business Continuity Management.
- The Bank also maintained its leadership in Corporate Responsibility. A number of new programs were launched to enhance NCB’s strategic partnerships and geographic coverage. Various initiatives included job opportunity programs that provided entrepreneurs with knowledge, support, and generous loans.