UPDATE 1-Saudi c.bank governor says does not see more bank mergers | Reuters:
Saudi Arabia’s central bank does not see more bank mergers for the time being beyond those already announced, its governor Ahmed al-Kholifey said on Sunday.
His comments came after National Commercial Bank, the kingdom’s biggest lender by assets, and Riyad Bank said in December they had begun preliminary talks to potentially create a combined group with $183 billion in assets.
That move came two months after Saudi British Bank (SABB) and smaller rival Alawwal Bank agreed a binding deal to create Saudi Arabia’s third-biggest lender in the first major tie-up for the country’s banking sector in recent times.
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