CMA approves merger of Samba Capital & Investment Management with NCB Capital

31/05/2021 Argaam

Logo of CMA

The board of the Capital Market Authority (CMA) issued its resolution to approve the merger of Samba Capital & Investment Management Co. as the merged company into NCB Capital Co. as the merging company, and the cancellation of the license granted to Samba Capital & Investment Management Co.

 

The authority said in a statement that the decision is based upon the Capital Market Law issued by Royal Decree No. (M/30) dated 02/06/1424H and its implementing regulations.

 

According to data compiled by Argaam, National Commercial Bank (NCB) and Samba Financial Group announced, on April 1, the completion of their formal merger. The new bank started its operations under the name Saudi National Bank.

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