#Saudi bank mergers welcome as long as good for economy - central bank governor | Reuters

Saudi bank mergers welcome as long as good for economy - central bank governor | Reuters:

Saudi Arabia’s central bank governor said on Wednesday that bank mergers are welcome as long as they are good for the economy, after its biggest bank entered a binding merger agreement to create the Gulf’s third largest lender.

The Saudi Arabian Monetary Authority (SAMA) is currently considering issuing new bank licences, its governor, Ahmed al-Kholifey, said.