The global pandemic and an oil price rout are prompting a new wave of consolidation talk among banks in the Middle East. In recent weeks, two potential tie-ups in Saudi Arabia and Qatar have been announced, adding momentum to an already unprecedented merger and acquisition spree. With about $440 billion of deals on the table, here’s what’s in the works:
National Commercial Bank and Samba
- Saudi Arabia’s largest lender by assets last month said it plans to pay as much as $15.6 billion to acquire rival Samba Financial Group in what could be the world’s biggest banking takeover this year. The potential deal, which would create the region’s third-largest lender, comes about six months after NCB abandoned plans to merge with Riyad Bank
- Combined entity: About $210 billion
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