Jeddah, Asharq Al-Awsat- The National Commercial Bank (NCB) recently opened the two largest domestic Stock Trading Lounges in the Najran region. They hold up 200 stock exchangers. Mr. Hany AlShuwaier, the NCB Head of Brokerage Division, indicated that this step is part of the banks continued efforts towards development with the aim of providing the best possible service for its clients and the clients of the Saudi Capital market which is experiencing a noticeable growth since the second half of 2003.
Mr. AlShuwaier added that the size of stock trading at the NCB had recorded large increases at around 83% during the first half of 2005. He also stated that the NCB had launched at the start of the second quarter of this year, trading services via the internet as a new addition to the banks already available channels which include trading through lounges, centers and the Al Ahli telephone banking.
Stock trading via the internet are witnessing wide acceptance, it allows clients to conduct sales and buys and manage orders from a distance and from any location they may be at.
Mr. Saeed Al Khuraimi, the NCB Southern Regional Manager responded to a question on the number of stock trading lounges at the bank in the Southern region by saying that they were 6 units; two new units in the city of Najran and the rest are distributed throughout Abha, Khamees Mushait, Jizan and Bisha.