NCB & Samba banks agree o Merge to create Arab World’s 3rd Largest lender

NCB & Samba banks agree o Merge to create Arab World’s 3rd Largest lender–>

This deal will make NCB the first in the Middle East in terms of net income, It will become a leading bank in the Middle East region with 171 billion Saudi Riyals in market capitalization.- While in Saudi Arabia, It will become the Kingdom’s largest bank serving nearly 25% of the retail and wholesale banking market. The merged bank will leverage NCB and Samba’s leading retail banking franchises, serving 26% of the market in retail loans and 29% of the market in retail liabilities. Trending : 17,000 jobs for Saudis in hypermarkets and supermarkets by the end of 2021- The merger will result in all Samba assets and liabilities being transferred to NCB. Once the transaction is complete, Only NCB will survive…

This is only a snippet of a Photobook Photography Article written by Aahil Shaik

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