National Commercial Bank
From Wikipedia, the free encyclopedia
| National Commercial Bank البنك الأهلي التجاري |
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| Type | Public company |
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| Founded | 1953 |
| Headquarters | Jeddah, Saudi Arabia |
| Key people | Abdullah Bahamdan (Chairman) |
| Industry | Finance |
| Products | Financial Services |
| Employees | 4744 |
| Slogan | together as one |
| Website | [1] |
National Commercial Bank (NCB) also known as Al-Ahli Bank (Arabic:البنك الأهلي التجاري) is the First Saudi Arabian bank. It was established in 1953.
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[edit] Founding
The National Commercial Bank was the first bank established in Saudi Arabia and was formed in 1953 pursuant to a Royal Decree by the late King Abdul Aziz Al-Saud to convert the partnership of Saleh & Abdulaziz Kaki and Salem bin Mahfouz into the National Commercial Bank.
The NCB was founded with a paid-up capital of SR 30 million (US 8 million).
[edit] Ownership and Legal Constitution
The Bank was constituted as a General Partnership from its founding in 1953 until July 01, 1997, when it was reconstituted as a Joint Stock Company.
In 1999, the government of Saudi Arabia acquired a majority holding in the Bank through the Ministry of Finance's Public Investment Fund (PIF).
[edit] Management
With the changes in the Bank's ownership in 1999, a new Board of Directors was formed under the Chairmanship of Abdullah Bahamdan. This marked a clear separation between ownership and management of the Bank. Since then, NCB recorded appreciable changes in the quality of customer service, product offerings and financial performance indicators. Mr.Bahamdan was reelected Chairman of the Board of Directors for the current term.
[edit] Financial Indicators
- The NCB is the largest Bank in terms of capital both in Saudi Arabia and in the Middle East. The Bank's paid-up capital is US$ 1,600 million.
- Total assets at year end 2005 totaled US$ 38,877 Billion.
- Net profit for fiscal year 2005 totaled US$ 1.336 million.
- Shareholder's equity at year end 2005 totaled US$ 5,770 million.
- Return on average Shareholder's equity for fiscal year 2005 amounted to 28.3%.
- Earning per share for fiscal year 2005 amounted to US$ 11.1, compared to 29.4 over earning per share for fiscal year 2004.
[edit] Key Facts & Figures
- At year end 2005, the Bank operated 261 branches throughout Saudi Arabia, including 243 branches dedicated exclusively to Islamic Banking services.
- By year end 2005, the Bank's customers surpassed 1.309.025 client.
- The Bank operates the largest dealing room in foreign exchange and money market in the Middle East.
- The Bank operates 942 Automated Teller Machines and 7,000 Point-of Sale Terminals.
- The Bank operates 2 international branches in Beirut and Bahrain, and 4 representative offices in London, Seoul, Tokyo, and Singapore.
- The Bank operates a comprehensive array of alternative channels for services delivery, including Al-Ahli Telephone Banking, Al-Ahli Mobile Banking, Al-Ahli Online, Al-Ahli Money Laundering, Al-Ahli Trade, Al-Ahli Tadawul and Al-Ahli International Brokerage.
- Over 80% of customer transactions were executed through alternative delivery channels during fiscal year 2005.
- The Bank was the first Saudi Bank to launch Credit Cards for settlement of online purchases.
In cooperation with Saudi Telecom Company, the Bank pioneered mobile banking in Saudi Arabia by introducing Al-Ahli SMS Service, a service which provides customers with easy and secure contact with their NCB accounts via mobile telephones.
