Close Menu
  • Home
  • News
  • Business
  • Lifestyle
    • Entertainment
  • Travel
  • Tech
  • Living
  • Others
    • Housing
    • Jobs
    • Education
    • Community
    • Expat life
X (Twitter)
  • Editorial Policy
  • About Us
  • Contact
X (Twitter)
Dubai Week
Subscribe
  • Home
  • News
  • Business
  • Lifestyle
    • Entertainment
  • Travel
  • Tech
  • Living
  • Others
    • Housing
    • Jobs
    • Education
    • Community
    • Expat life
Dubai Week
  • Home
  • News
  • Business
  • Lifestyle
  • Travel
  • Tech
  • Living
  • Others
Home»News»Saudi Arabia .. The biggest merger of the Bank and the Financial Group has come to an end
Saudi Arabia .. The biggest merger of the Bank and the Financial Group has come to an end
News

Saudi Arabia .. The biggest merger of the Bank and the Financial Group has come to an end

Nadia BarnettBy Nadia BarnettJanuary 9, 2022No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

What is the value of Saudi Bank after the merger?

$ 239 billion.

When was the new company legally launched?

April 1 last year.

Today, Sunday, the National Bank of Saudi Arabia announced the completion of the $ 239 billion merger process between Al-Ahly Commercial and Samba Financial Group, the largest and fastest merger in regional history.

The National Bank said in a statement that the merger would “establish a financial strength with local and regional competitiveness and integrate the position of the Saudi banking sector regionally and globally.”

“All stages of the map for the merger process have been successfully completed, leading to the establishment of the largest banking institution in the country with 900 billion riyals ($ 239 billion) and a capital base of 44. billion and 780 million Saudi riyals ($ 11 billion and $ 928 million), respectively.

He noted that the last phase of the merger process was completed “successfully” within 9 months of the new company’s legal launch on April 1, 2021. This merger process involves 5 key axes, including the exchange of accounts of individual clients and corporate clients, Treasury Department clients and NCB Capital. Transferring customers of capital, transfer of other management departments and merging of branches from both banks.

He added: “The bank has opened more than 1.4 million new accounts for individual customers, which is 100% of the total individual customers. Opened and operated 100% accounts in the segment of companies.

Under a merger agreement announced in April last year, the bank changed its name from “Al-Ahly Commercial” to “Al-Ahly Saudi” and listed “Samba” finance shares in local stocks. The exchange was canceled.

Al-Ahly was involved in merger talks with Riyadh Bank and later revised them.

The Saudi banking sector currently has branches of 10 local banks and 15 foreign banks.

Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Previous ArticleMeet the American Idol contestant’s world # 1 Fingers Cross song | News
Next Article United Arab Emirates Joint Chiefs of Staff: Emirates Shield training aims to enhance the readiness of our forces
Nadia Barnett

"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Related Posts

FutureSec Summit’25 to Tackle AI, Digital Trust, and Cyber Resilience in Dubai

June 17, 2025

CNN Academy Abu Dhabi Opens Applications for Aspiring Media Talent

June 14, 2025

Top 10 Cleaning Companies in Dubai for 2025 by DubaiWeek

June 14, 2025

Al Habtoor City Hotel Collection Celebrates Partners in Style at Inaugural Appreciation Night

June 10, 2025
sport

UAE to Compete for the First Time at the World Transplant Games 2025 in Dresden, Germany

By Steve LaidlawJune 20, 20250 sport

For the first time in history, the United Arab Emirates will be represented at the…

Get Ready to Tee Off with Ribs & Brews Epic Golf Simulator Competitions

June 20, 2025

Dubai Summer Surprises 2025: Full Line-Up Revealed

June 19, 2025

Nooria’s Ultimate Father’s Day Gift Guide that Keeps on Giving

June 19, 2025
X (Twitter)
  • About Us
  • Privacy Policy
  • DMCA
  • Editorial Policy
  • Contact
© 2025 Dubai Week

Type above and press Enter to search. Press Esc to cancel.