Through residential financing and other Government initiatives, and in close cooperation with the Ministry of Housing and Real Estate Development Fund (REDF) programs, NCB’s residential financing is a vital contributor to the growth in the number of Saudis who own their homes.

As the largest financial institution in Saudi Arabia, NCB has significantly ramped up its support for residential financing to help citizens fulfill their housing aspirations.

More than 93,000 Saudi families received NCB residential financing, to a total value of SAR 74 billion.

NCB offered comprehensive residential financing solutions and programs to Saudi citizens, almost doubling the value of its mortgage portfolio during 2020.

Despite all the challenges of the year, the portfolio grew in absolute terms and by market share and is now the largest segment of Retail Banking at NCB. The Bank’s market share of outstanding credit balances in Residential Finance has grown from 20.9% to 25%.

Despite social distancing and lockdown restrictions to counter the impacts of the pandemic, NCB was able to leverage its strong leadership, agile operating model and untiring, talented employees to deliver uninterrupted banking services to customers.

The Bank spared no efforts to enable Saudi citizens to secure residential financing and avail themselves of the generous housing subsidies made possible by the Ministry of Housing and Real Estate Development Fund.

As a part of the Bank’s retail asset deployment and digital transformation strategies, the launch of Aqar AlAhli, the first mobile app in Saudi Arabia facilitating residential financing applications, offered a convenient digital facility without the need for a branch visit.

The Saudi Ministry of Housing once again honored the Bank for being a strategic partner in realizing the Kingdom’s vision and supporting the Ministry and REDF programs, ranking NCB as ‘Best Real Estate Finance Bank as a Partner in Realizing Vision 2030’.