June 25, 2020 / 12:10 PM / 14 days ago

Saudi lenders NCB and Samba are in early merger talks - sources

RIYADH/DUBAI, June 25 (Reuters) - National Commercial Bank (NCB), Saudi Arabia’s largest lender by assets, is in early-stage merger talks with smaller rival Samba Financial Group, two sources familiar with the matter told Reuters.

The merger is expected to create one of the region’s largest banks, the sources said.

Saudi stock exchange Tadawul said on Thursday it was suspending trading in NBC and Samba at the banks’ requests until June 28 ahead of the banks announcing a material event. (Reporting by Marwa Rashad and Saeed Azhar; Editing by David Evans)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below