 The bank initiated business as 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.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 (TFKB), the leading participation bank in Turkey,

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.