How #SaudiArabia’s $15.6 Billion Bank Merger Would Stack Up - Bloomberg

How Saudi Arabia’s $15.6 Billion Bank Merger Would Stack Up - Bloomberg:
The combination of National Commercial Bank and rival Samba Financial Group would create the third-largest lender in the Gulf Cooperation Council and a national champion to compete with regional players.
In what’s set to become the biggest banking takeover this year, Saudi Arabia’s largest lender by assets proposed to pay as much as $15.6 billion to acquire rival Samba.
The merged lender would have total assets of about $210 billion, making it the region’s largest behind Qatar National Bank QPSC and First Abu Dhabi Bank PJSC, according to data compiled by Bloomberg.
How #SaudiArabia’s $15.6 Billion Bank Merger Would Stack Up - Bloomberg  
Saudi Arabia has almost 30 lenders catering to over 30 million people, compared with only about a dozen listed banks in the U.K. -- a country of about 65 million people. The kingdom has been taking steps to shore up its banking sector from the double whammy of the coronavirus shock and lower oil prices.

[Author: [email protected] (Rupert Neil Bumfrey)]

Tags: Travel, Saudi Arabia, Bloomberg, Gulf Cooperation Council, Rupert Neil Bumfrey, Samba Financial Group, National Commercial Bank, Qatar National Bank QPSC, First Abu Dhabi Bank PJSC, Bloomberg Saudi Arabia