Mergers & Acquisitions
Retail Banking
Uncategorized
Year's biggest bank merger sealed as Saudi rivals reach US$15b deal
NATIONAL Commercial Bank, Saudi Arabia's largest lender by assets, agreed to buy rival Samba Financial Group for US$15 billion in the biggest banking takeover this year. NCB will pay 28.45 riyals (S$10.30) for each Samba share, according to a statement on Sunday, valuing it at about 55.7 billion riyals. The…
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Click here to read the full story: The Business Times