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Shareholders approve new mega-bank - Saudi National Bank to launch on April 1


Entity created from NCB and Samba Financial Group merger will have 30% market share
Published: 
March 02, 2021 08:51
Last updated: 
March 02, 2021 12:20
Gulf News Report
Creating a powerhouse - Both National Commercial Bank and Samba already have quite a sizable share of the local banking space. A merged entity will deliver additional synergies. Move could also prompt others to consolidate as size will matter.
Image Credit: AFP
Dubai: One of the biggest banking entities in the Middle East is being launched, with Saudi Arabia s National Commercial Bank (NCB) and Samba Financial Group (Samba) getting shareholder approval for the merger. The merged entity - Saudi National Bank - plans to start operations on April 1 and will have Riyadh as headquarters. ....

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