JEDDAH, 24 May 2004 — The National Commercial Bank (NCB) will shortly be celebrating the 50th anniversary of its founding, said Abdullah Salim Bahamdan, NCB chairman and managing director. Bahamdan said NCB had achieved continued growth in all its activities and in the number of branches and employees at home and abroad. Today, it is one of the leading banks in the Kingdom and across the Arab world. The chairman put the bank’s success down to the original vision of the bank’s founders. Abdulhadi Shayif, director and general manager of the NCB, said, “The bank marks its golden jubilee while leading the banking sector in the Arab world in terms of profitability, assets, performance levels, and other indicators. This means that the bank will have to work harder to maintain its leading position as an innovator of banking services and programs.” The bank’s net income exceeded SR3 billion in 2003, the highest in the Arab world’s banking sector. Its assets exceeded SR117.4 billion by the end of last year and shareholders’ equity stands at SR10.3 billion. The bank has more than 1 million customers and 4,282 employees — with a Saudization rate of 84 percent.
