The National Commercial Bank was the first Saudi bank to be licensed in the Kingdom. It is considered the biggest in the 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 the largest Bank in the Arab world. The Bank’s paid-up capital is SR 15,000 million ($ 4,000 millon). - Total assets at year-end 2011 totaled SR 301,198 million ($ 80,320 million). - Net profit for fiscal year 2011 totaled SR 6,012 million ($ 1,603 million). - Shareholders’ equity at year-end 2011 totaled SR 35,585 million ($ 9,489 million). - Return on average Shareholder’s equity for fiscal year 2011 amounted to 18.4%. - Earning per share for fiscal year 2011 amounted to SR 4.02 ($ 1.07). Key Facts & Figures at year-end 2011: - The Bank operates 288 branches across the Kingdom, dedicated exclusively to Islamic Banking services. - The Bank’s customers had surpassed 2.8 million clients. - The Bank employees across the Kingdom had reached a total manpower of 5,879, 90% of which are Saudis. - The Bank has operated 1,791 Automated Teller Machines throughout the Kingdom.