The National Commercial Bank was formed in 1953 by Royal Decree as a general partnership, resulting from the merger of Saudi Arabia's largest currency houses: Saleh and Abdulaziz Kaki, and the Salem bin Mahfouz Company. The two businesses joined to form the first officially recognised Saudi bank. In 1979, NCB became the first Saudi bank to launch a mutual fund, and has led innovations in real estate and auto finance. Since then, we have pioneered the development of many Shariah compliant financial services that now meet the needs of more than 3.5 million customers. In 1997, NCB was converted to a joint stock company and, since 1999, shareholding has been divided between two government institutions - the Public Investment Fund and the General Organization for Social Insurance - along with a number of Saudi investors. NCB has grown to become one of the largest banks in the Arab world.
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