No concern over mergers given new banks licensing is open: Alkholifey

Bank mergers strengthen their positions within the banking sector, Ahmed Alkholifey, governor of the Saudi Arabian Monetary Authority (SAMA), said in an interview with Argaam.

He added that bank mergers do not pose a concern as long as the door is open for licensing new lenders.

SAMA is currently reviewing two license requests by commercial banks. The Kingdom’s central bank is also studying a request from a digital bank, he stated.

The National Commercial Bank (NCB) and Riyad Bank’s board of directors decided to start preliminary mergers talks in December, Argaam previously reported.