Merger Binding Agreement
On 11 October 2020, The National Commercial Bank (NCB) entered into a binding agreement to merge with Samba Financial Group (Samba) to create a new Saudi banking champion. The merger will build on the existing complementary strengths of both banks, whilst leveraging significant cross-selling capabilities to achieve significant value for communities, customers and shareholders. The merger, if approved by shareholders and regulators, will create a regional powerhouse with a resilient and balanced business model, strongly positioned to support the transformation of Saudi Arabia.
Both banks will continue to operate independently until shareholders vote on the merger and all legal requirements and regulatory approvals are met.
We will continue to announce any material developments related to the proposed merger as and when they occur.
To stay informed about the merger, please visit NcbSambaStronger.com