Saudi’s NCB, Samba discussing mega merger to create bank of $214 bln in assets
Saudi Arabia’s National Commercial Bank and Samba Financial Group are discussing a potential merger that would create a bank holding some 802 billion riyals ($214 billion) in assets.
NCB and Samba on Thursday (June 25) said in separate filings on Tadawul that they had entered into a framework agreement to start the due diligence process and negotiations for a potential merger.
The proposal is for Samba investors to receive newly-issued NCB shares in exchange for their existing shares.
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