RIYADH May 4 Saudi Arabia's central bank
governor Ahmed al-Kholifey said on Thursday that he did not see
more bank mergers looming, after Alawwal Bank and
Saudi British Bank agreed last week to start talks on
a possible merger.
"I don't see any in the pipeline," Kholifey told reporters.
Reuters reported in March that French bank Credit Agricole
had picked JPMorgan to advise it on a potential sale
of its 31 percent stake in Banque Saudi Fransi.
Kholifey said on Thursday that he had met with Credit Agricole
officials but had not received a request for approval from them
to sell the stake.
Kholifey also said the central bank had an open policy on
foreign banks seeking to open new branches in Saudi Arabia,
signalling that in principle authorities were willing to
(Reporting by Saeed Azhar; Writing by Andrew Torchia)