JEDDAH, 17 February 2007 — NCB has been awarded the title of “Best private bank” in Saudi Arabia in Euromoney’s benchmark annual survey of the wealth management industry. NCB’s private banking division maintains its dominance of the Saudi market, winning the survey for the third consecutive year.
“We are proud to receive this prestigious international award for the third time in a row,” said AlSharif Khalid AlGhalib, head of NCB private banking division. “With the Saudi economy continuing to show dynamic growth and the subsequent expansion of wealth, we continue to be the most trusted wealth manager in the region, offering a comprehensive product range, expert advice, and the highest service quality for our clients.”
The Euromoney awards are much coveted in the banking industry because of the high standing of the magazine. To win the title of best private bank in Saudi Arabia for three consecutive years at a time when private banking is becoming increasingly competitive shows the superiority of NCB’s expertise in wealth creation and management, which is built on half a century of experience and a profound understanding of local and global investment markets.
The Euromoney Awards 2006 were decided as the result of the responses to a survey of 558 private banks and wealth managers in 56 countries, representing $3.34 trillion of assets under management and $66.2 billion of global annual revenue. Euromoney is the voice of the international capital markets and offers unparalleled coverage of the global bond, equity and foreign exchange markets.
Established in 1994, NCB Private Banking Division is staffed by a team of dedicated professional personal bankers, each one committed to the highest standards of service.
Relationship managers provide the division’s distinguished clients with a discreet service that is based on confidentiality and in-depth knowledge of managing wealth and maximizing and protecting assets, he added.