Saudi National Bank says NCB Capital-Samba Capital merger complete

11/07/2021 Argaam

Logo of Saudi National Bank

Saudi National Bank announced today the merger of Samba Capital into NCB Capital.

 

Following the merger, Samba Capital has ceased to exist, and all its assets and liabilities transferred to NCB Capital, the bank said in a statement to Tadawul.

 

In May, the board of the Capital Market Authority (CMA) issued its resolution to approve the merger of Samba Capital & Investment Management Co. into NCB Capital Co.

 

On April 1, National Commercial Bank (NCB) and Samba Financial Group announced the completion of their formal merger under the new bank name Saudi National Bank.

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