DUBAI: NCB Capital and Samba Capital & Investment Management Co. will complete their merger in the third quarter of 2021.
Saudi National Bank (SNB), which was itself the result of the merger of National Commercial Bank (NCB) and Samba Financial Group in April, made the announcement in a bourse statement on Tuesday.
“SNB announces that the approval of the Capital Market Authority (CMA) has been obtained in relation to the merger and its related matters,” it said.
“Both NCB Capital and Samba Capital are currently working on completing all relevant procedures.”
According to financial news website Argaam, the CMA issued its approval on Monday.
