The National Commercial Bank was the first Saudi bank to be licensed in the Kingdom. It is the largest in 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.