Saudi National Bank emerges

Issue 1119 - 04 Feb 2021

National Commercial Bank (NCB) and Samba Financial Group (Samba) will adopt name Saudi National Bank following their merger, which should be concluded in H1 2021. The deal is intended to create a national banking champion with more than SR837bn ($223.2bn) in assets. It still needs final regulatory approval – which is expected without hitch – and shareholders’ approval when both banks hold extraordinary general meetings.

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