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.
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- NCB is one of the largest Banks in the Arab world. The Bank’s paid-up capital is SAR 30 billion (US$ 8 billion).
- Assets at year-end 2017 totaled SAR 444 Billion (US$ 118 billion).
- Net profit for the year 2017 totaled SAR 9,802 million (US$ 2,614 million).
- Shareholders’ Equity at year-end 2017 totaled SAR 64,276 million (US$ 17,140 million).
- Return on average Shareholder’s Equity for the fiscal year 2017 is 17.8%.
- Basic earnings per share for the year 2017 amounted to SAR 4.74 (US$ 1.26).
Key Facts & Figures:
- At year-end 2017, the Bank operated 400 branches throughout the Kingdom, dedicated exclusively to Islamic Banking services.
- At year-end 2017, the Bank’s clients exceeded 5.9 million.
- At year-end 2017, the Bank’s employees throughout the Kingdom reached a total of 7,973 and 95.3% of which are Saudis.
- At year-end 2017, the Bank has operated 3,488 Automated Teller Machines (ATMs) throughout the Kingdom.
- Over 96% of clients’ transactions had been successfully executed through alternative delivery channels during the year 2017.
- 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.