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NCB, Samba complete final phase of merger creating Saudi Arabia’s largest bank

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Sun, 2022-01-09 11:18

RIYADH: The National Commercial Bank, or NCB, concluded the final phases of a merger deal with Riyadh-based Samba Financial Group on Jan. 6, 2022, to form Saudi National Bank.

With assets exceeding SR900 billion ($240 billion) and capital amounting to SR44.7 billion, the new entity is believed to be the Kingdom’s largest bank, according to a bourse filing. 

SNB concluded the last phase of the transaction in a record time, within nine months since the process started on April 1, 2021, making it the region’s largest and fastest merger. 

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