The National Commercial Bank (NCB) became a Joint Stock Company on July 1st, 1997. Since that groundbreaking event, NCB has concentrated on establishing the right organizational structure, capital adequacy and deployment, and management focus to ensure a high level performance, thereby enhancing shareholder value. Total Assets of the Bank were SR 110.7 billion at the end of first quarter of 2003 with customer deposits increasing by 11.5% to reach SR 88 billion. Arabian Business selected NCB for Best E-Banking Service Provider with the Saudi E-business Awards for 2002. With a network of 277 branches, NCB's Automatic Teller Machines (ATM) network now stands at over 730 machines, and the Bank has over 3900 Point of Sales (POS) Kingdom-wide. NCB has received accolades from both MasterCard International and Visa International for its performance during 1998.
About Infosys Technologies Ltd
Infosys, a world leader in consulting and information technology services, partners with Global 2000 companies to provide business consulting, systems integration, application development and product engineering services. Through these services, Infosys enables its clients to fully exploit technology for business transformation. Clients leverage Infosys' Global Delivery Model to achieve higher quality, rapid time-to -market and cost-effective solutions. Infosys has over 15,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com
Infosys' FinacleTM Suite of Enterprise Banking Solutions include-
FinacleTM eChannels- FinacleTM eChannels is a multi -lingual, component based, consumer e-banking solution addressing comprehensive retail banking functionality and EBPP. This solution enables banks to offer a consistent experience to their retail customers through e-channels such as the Internet and Mobile (both WAP &SMS). It gives banks the power to offer a comprehensive suite of services and administer them from a single point. Built on two leading, open industry standard platforms i.e.J2EE and .NET, FinacleTM eChannels leverages industry standard protocols and methodologies to seamlessly and easily interface with multiple back office systems. It enables banks to offer single point access to its multiple products, thus creating an integrated financial services offering for the bank's retail customers.
FinacleTM eCorporate- FinacleTM eCorporate is a powerful corporate e-banking solution, which enables banks to offer comprehensive corporate banking features covering Trade Finance, cash management, EIPP, B2B payments, etc. to their corporate customers. Built on two open industry standard platforms i.e.J2EE and .NET, it leverages industry standard protocols and methodologies to seamlessly interface with multiple back office systems. FinacleTM eCorporate enables banks to offer genuine valued added products and services to its corporate customers, who can access these products and services through multiple e-channels like the Internet, WAP and SMS.
Certain statements in this release concerning Infosys' future growth prospects are forward-looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20- F for the fiscal year ended March 31, 2003and the Quarterly Reports on Form 6- K for the fiscal quarters ended June 30, 2002, September 30, 2002, December 31st 2002 and March 31, 2003. These filings are available at www.sec.gov . Infosys may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.