• About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Banking

Saudi National Bank Receives Approvals from Shareholders

The new bank will operate with new structure and name, starting on April 1

The Global Economics by The Global Economics
March 2, 2021
in Banking, Trending
Reading Time: 1 min read
0
Saudi National Bank Receives Approvals from Shareholders

Saudi National Bank Receives Approvals from Shareholders

47
SHARES
3k
VIEWS
FacebookTwitterRedditWhatsAppLinkedInFacebook

Saudi Arabia’s National Commercial Bank (NCB) and Samba Financial Group have joined hands, leading to the emergence of Saudi National Bank, which would make the merger one of the largest banking entities in the Middle East. 

The companies announced on Tuesday on approval of the merger from shareholders to create the Kingdom’s biggest lenders. The operations will commence on April 1, with Riyadh as the headquarter. 

Shareholders confirmed that NCB chairman Saeed Al-Ghamdi will serve as the managing director and Chief Executive Officer of the group and Samba chairman Ammar Alkhudairy will become the merger bank’s chairman. 

The announcement of the merger ensues approval of all regulations, such as Capital Markets Authority (CMA), General Authority for Competition (GAC), Saudi Stock Exchange, and Saudi Central Bank (SAMA).

The proposed merger required approvals from CMA to raise capital from SR30 billion to SR44.78 billion for the issuance of a new share in NCB to Samba shareholders, as part of the preparation.

According to a statement, Saudi National Bank is estimated to have over $220 billion worth of total assets and will be the biggest in the region with around 30% market share across every metric. The new bank will also be optimally positioned to compete locally and regionally.

Tags: Samba Financial GroupSaudi Central BankSaudi National BankSaudi Stock Exchange
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

Related Posts

HSBC And Ant International Launch First Blockchain-Backed Deposit Tokenisation System in Hong Kong
Banking

HSBC And Ant International Launch First Blockchain-Backed Deposit Tokenisation System in Hong Kong

by The Global Economics
May 23, 2025
Japan’s Banks Mark Record Profits Despite Economy Shrinking 0.7%
Banking

Japan’s Banks Mark Record Profits Despite Economy Shrinking 0.7%

by The Global Economics
May 16, 2025
Trump's Order on US Drugs Might Increase Global Drug Prices
Trending

Trump’s Order on US Drugs Might Increase Global Drug Prices

by The Global Economics
May 13, 2025
Apple Introduces AI Search, and Google Should Be Worried
Technology

Apple Introduces AI Search, and Google Should Be Worried

by The Global Economics
May 8, 2025
US and Ukraine Sign the High-Stakes Critical Mineral Pact
Trending

US and Ukraine Sign the High-Stakes Critical Mineral Pact

by The Global Economics
May 1, 2025
Twitter Youtube LinkedIn Soundcloud
the global economics logo

The Global Economics Limited is a UK based financial publication and a Bi-Monthly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

IMF Commends Egypt’s Economic Progress But Advises A Wider Tax Base

IMF Commends Egypt’s Economic Progress But Advises A Wider Tax Base

May 29, 2025
Australia's Biggest LNG Plant Receives Backlash to Operate until 2070

Australia’s Biggest LNG Plant Receives Backlash to Operate until 2070

May 28, 2025
China’s Industrial Profits Increase Due To Stimulus Package, But Trade Risks Remain Constant

China’s Industrial Profits Increase Due To Stimulus Package, But Trade Risks Remain Constant

May 27, 2025
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version