Riyad Bank’s CEO says merger with NCB ‘under study’

21/10/2019 Argaam

 

The proposed merger between Riyad Bank and National Commercial Bank (NCB) is still “under study”, Tariq Al Sadhan, CEO of Riyad Bank, told Al-Arabiya TV on Monday.

 

The study is likely to take some time, owing to the heavy weight of both banks.

 

“It is currently difficult to provide a timeline for the merger study completion,” Al Sadhan added on the sidelines of the World Bank Group/International Monetary Fund 2019 Annual Meetings.

 

In December 2018, both banks said they started talks for a possible merger, Argaam reported.

 

Read: NCB in talks with Riyad Bank for merger

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