Riyadh – Mubasher: Saudi Arabia on Wednesday denied news over potential bank mergers in the coming period, the secretary general of the Media and Banking Awareness Committee of Saudi banks Talat Hafez said.
During the previous period, several Saudi banks had announced beginning negotiations over possible mergers that would result in mega banking institutions.
In December, the National Commercial Bank (NCB) began initial negotiations with Riyad Bank for a possible merger that would create an asset base of $182 billion for the combined entity.
Earlier in October 2018, the Saudi British Bank (SABB) and Alawwal bank signed a binding merger agreement.
