National Commercial Bank

National Commercial Bank
The National Commercial Bank
البنك الأهلي التجاري
Type Private Company
Industry Finance
Founded 1953
Headquarters Jeddah, Saudi Arabia
Key people Abdullah Bahamdan (Chairman); Abdulkareem Abu Alnasr (CEO)
Products Financial Services
Website www.alahli.com.sa


The National Commercial Bank (NCB) also known as AlAhli Bank (Arabic: البنك الأهلي التجاري‎) is the first Saudi Arabian bank, the largest bank by asset in the Arab world and one of the pioneers in Islamic Banking and finance in the world.

Contents

Founding and Legal Structure

  • The National Commercial Bank was the first Saudi bank to be licensed and the biggest in the Kingdom and a leading financial institution in the Region. The Bank initiated business in the name of ‘‘The National Commercial Bank’’ under 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.
  • The National Commercial Bank owns 90.424% of NCB Capital, the Premier Investment bank in the Kingdom, and owns 64.68% of Turkiye Finans Katilim Bankasti (TFKB), the leading bank in Islamic Banking in Turkey.


NCB Headquarters - Jeddah, KSA

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).

Management

With the changes in the Bank's ownership in 1999, a new Board of Directors was formed under the Chairmanship of Mr. Abdulla Salem Bahamdan who was re-elected as Chairman of the Board of Directors for the current term. On October 1, 2005, Mr. Abdulkareem Abu Alnasr was appointed as General Manager and later assumed the bank's first Chief Executive Officer (CEO) position on January 1, 2006.

NCB CEO Abdulkareem Abu Alnasr

Financial Indicators

  • The NCB is the largest Bank in the Arab world. The Bank’s paid-up capital is SR 15,000 million (US$ 4,000 million).
  • Total assets at year-end 2010 totaled SR 282,372 million (US$ 75,299 million).
  • Net profit for fiscal year 2010 totaled SR 4,724 million (US$ 1,260 million).
  • Shareholders’ equity at year-end 2010 totaled SR 31,272 million (US$ 8,339 million).
  • Return on average Shareholder’s equity for fiscal year 2010 amounted to 15.6%
  • Earning per share for fiscal year 2010 amounted to SR 3.16 (US$ 0.84).

Key Facts & Figures

NCB Headquarters in Jeddah old town
  • At year-end 2010, the Bank has operated 284 branches throughout the Kingdom, dedicated exclusively to Islamic Banking services.
  • At year-end 2010, the Bank’s customers had surpassed 2.3 million clients.
  • At year-end 2010, the Bank employees throughout the Kingdom had reached a total manpower of 5,443 of which 89.4% are Saudis
  • At year-end 2010, the Bank has operated 1626 Automated Teller Machines throughout the Kingdom.
  • Over 89% of customer transactions had been successfully executed through alternative delivery channels during fiscal year 2010.

Awards received in 2010

  • King Khalid Responsible Competitiveness award for the third year in a row.
  • “Best Private Banking in KSA” by Euromoney.
  • The Banker ranked NCB as # 1 in the Middle East & # 126 in the World according to its Tier 1 Capital.
  • Deal Logic has rated NCB as number one Project Finance Bank in the Middle East; One of our deals, Riyadh IPP, is chosen by Euromoney as Middle East’s Power Deal of the Year for 2010.
  • NCB Capital, the investment arm of NCB, was named Best Asset Manager Award by CPI Financial, publisher of Islamic Business & Finance magazine
  • Best Asset Manager Award by Central Bank of Bahrain to NCB Capital.
  • Best Research Company in the Middle East Award by Euromoney to NCB Capital.
  • Türkiye Finans Katılım Bankası, of which NCB holds 64.68% of shares, was named best Islamic Financial Institution in Turkey by Islamic Finance.
  • The National Commercial Bank Chief Executive Officer, Abdulkareem Abu Alnasr, was named Islamic Banker of the Year 2010 by the World Islamic Banking Conference "WIBC", a select group of fellow executive leaders drawn from the Islamic Banking and Finance Industry.

Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • National Commercial Bank — Rechtsform Gründung 1953 Sitz Dschidda …   Deutsch Wikipedia

  • National Commercial Bank — La National Commercial Bank Limited (chinois : 浙江興業銀行 ; chinois traditionnel : 浙江兴业银行) etait une banque Hongkongaise. Elle est maintenant fusionnée à l intérieur de Bank of China (Hong Kong). Histoire 1907: Créée à Hangzhou par la… …   Wikipédia en Français

  • National Commercial Bank of Scotland — The National Commercial Bank of Scotland Ltd. was a Scottish commercial bank. It was established in 1959 through a merger of the National Bank of Scotland (est. 1825) with the Commercial Bank of Scotland (est. 1810). Ten years later it merged… …   Wikipedia

  • The National Commercial Bank — Limited (Chinese: 浙江興業銀行;simplified Chinese: 浙江兴业银行) was a bank based in Hong Kong. It is now merged to Bank of China (Hong Kong). History 1907: Established in Hangzhou by Chekiang Railway Company (Chinese: 浙江省鐵路公司). 1915: Moved headquarter to… …   Wikipedia

  • Zambia National Commercial Bank — Zanaco redirects here; for the football club, see Zanaco FC. Zambia National Commercial Bank is a bank of Zambia. The bank is based in Lusaka and is commonly referred to by the name Zanaco . The bank was founded in 1969; it operates over 40 bank… …   Wikipedia

  • Zambia National Commercial Bank — Rechtsform Aktiengesellschaft Gründung 1969 Sitz Lusaka, Sambia   …   Deutsch Wikipedia

  • National Commerce Bank — Localisation Coordonnées …   Wikipédia en Français

  • National Australia Bank — Limited Type Public Traded as ASX:  …   Wikipedia

  • National Westminster Bank — Plc Type Public Limited Company Industry Financial Services Founded 1968 …   Wikipedia

  • National Investment Bank — Type Parastatal Industry Financial Services Founded 1963 Headquarters Accra, Ghana Key people Emmanuel Ablo …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”