The National Commercial Bank, also known as AlAhli Bank, is a Saudi Arabian bank. The institute is the largest bank by total asset in Saudi Arabia and the second-largest by market capitalization, and it's one of the largest Islamic banks in the world in terms of assets. NCB practices Islamic banking and finance. In 2014, NCB announced to turn itself into a fully Islamic bank in the next five years. Samba and NCB planned a mega-merger worth 15.3 billion dollars. The merger would result in creation of Arabian Gulf's third largest bank after Qatar National Bank and First Abu Dhabi Bank.
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 founded by Sheikh Abdulaziz Mohammad Kaki, Sheikh Saleh Mousa Kaki, & Sheikh Salem Ahmed Binmahfouz. The bank initiated business as The National Commercial Bank following the Royal Decree on 20 Rabi Thani 1373H. In 1999, the government through the Ministry of Finance's Public Investment Fund acquired a majority holding in the Bank. The National Commercial Bank owns 90.7% of NCB Capital, its investment arm and the premier investment bank in the kingdom, and owns 67.03% of Türkiye Finans Katılım Bankası, the leading participation bank in Turkey,
Ownership and legal constitution
The bank was constituted as a general partnership from its founding in 1953 until 1 July 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. In an extraordinary general assembly meeting held on 21 March 2014, the shareholders approved to offer 25% of the bank's share capital to the general public under the initial public offering and to a minority shareholder of the bank. The IPO was made for 15% of the bank's share capital and an additional 10% was allocated to the Public Pension Agency. The shares offered were part of the shareholding of a majority shareholder of the bank. The IPO was approved by the regulatory authorities and the subscription for the IPO took place between 19 October 2014 and 2 November 2014, and the Bank's shares have been trading on Saudi Stock Exchange since 12 November 2014.
Management
In May 2018, Faisal Omar Alsaggaf was appointed chief executive office of National Commercial Bank. This was announced by Mansour al-Maiman, Chairman of the Board of Directors of NCB. The board appointed Faisal as the new CEO who would take charge in May 2018. In May 2018, Saeed bin Muhammad Al-Ghamdi was appointed as chairman.
