Saudi British Bank (SABB) and Alawwal Bank have filed a request with the Saudi General Authority for Competition (GAC) to approve their planned merger, the authority said in a statement on Sunday.
The public and other stakeholders are required to submit their opinions on the planned merger within 15 days, the statement said.
On Oct. 3, the two banks entered into a binding merger agreement, whereby the assets and liabilities of Alawwal will be transferred to SABB, Argaam reported.
The deal is expected to be finalized during H1 2019.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}