Mazen Afif
(SVP) Head, Consumer Finance Operations at The National Commercial Bank - AlahliNCB
Last Updated:
December 07, 2019
Saudi Arabia
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The National Commercial Bank was the first Saudi bank to be licensed in the Kingdom. It is 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 Ministry of Finance's Public Investment Fund (PIF) acquired a majority holding in the Bank. Financial Indicators: • NCB is one of the largest Bank in the Arab world. The Bank's paid-up capital is SR 20,000 million (US$ 5,333 million) • Total assets at year-end 2015 totaled SR 449,340 million (US$ 119,824 million) • Net profit for the year 2015 totaled SR 9,089 million (US$ 2,424 million) • Shareholders' equity at year-end 2015 totaled SR 48,462 million (US$ 12,923 million) • Return on average Shareholder's Equity for the fiscal year 2015 is 19.24% • Earning per share for the year 2015 amounted to SR 4.56 (US$ 1.21) Key Facts & Figures at Year-end of 2015: • At year-end 2015, the Bank operated 352 branches, dedicated exclusively to Islamic Banking services. • At year-end 2015, the Bank's customers reached 4.86 million • At year-end 2015, the Bank employees reached a total manpower of 8,067, and 94.14% of which are Saudis. • At year-end 2015, the Bank has operated 2,927 ATMs throughout the Kingdom • Over 94% of customer transactions had been successfully executed through alternative delivery channels during year 2015. • NCB is among the first Saudi companies to implement the principle of Corporate Governance and the first bank in Saudi Arabia to receive International Certification on Business Continuity Management. • NCB maintained its leadership in Corporate Responsibility. Many new programs were launched to enhance strategic partnerships and geographic coverage. Various initiatives included job opportunity programs that provided entrepreneurs with knowledge, support, and generous loans. ----- National Commercial Bank offers solutions specifically designed for personal and business needs. The National Commercial Bank (NCB) is a prominent Saudi Arabian bank and the leading financial institution in the region. The bank is considered the largest and the first to officially be licensed and operate in Saudi Arabia, following the Royal Decree of the 26th of December 1953, corresponding to 20th of Rabi Al-Thani 1373H. NCB was formed as a result of partnership and merger of Saudi Arabia's largest currency exchange houses at the time; Mr. Saleh and Abdulaziz Kaki, and the Mr. Salem bin Mahfouz Company. In 1979, NCB became the first Saudi bank to launch a mutual fund product. The bank has, since then, led numerous Shariah-Compliant financial services whilst continued being a pioneer in financial innovations such as real estate and auto-lease finance. In addition, NCB asserted its leadership by being the first bank to introduce Credit Cards, the first to operate an ATM (Automated-Teller-Machine), the first to introduce students savings schemes, and the first to dedicate branches for ladies. NCB was became a joint stock company in 1997. And by 1999, the Saudi government, represented by the Public Investment Fund (PIF), acquired the majority of shares. The remainder shares were distributed amongst; General Organization for Social Insurance (GOSI), and a number of Saudi investors. In 2014, NCB offered 25% of its shares to the public through IPO subscription, marking the beginning of yet another new era in which the bank and providing investors with the opportunity to participate in its expansion across all sectors. In part of being the leading bank, NCB is one of the first Saudi companies to implement The Principle of Corporate Governance and the first bank in Saudi Arabia to receive International Certification on Business Continuity Management. NCB is also a pioneer in Corporate Responsibility with its various programs offering job opportunity programs, entrepreneurship workshops and support, and loans. The National Commercial Bank is one of the largest banks in the Pan-Arab region, with a paid-up capital of SAR30 billion (US$8 billion ). It also has 90.71% direct ownership of NCB Capital, a premier investment house and arm, and owns 67.03% of Türkiye Finans Katılım Bankası (TFKB), the leading participation bank in Turkey. ​......Read More
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