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BANKING

Saudi bank Al Rajhi in merger talks for its Malaysian unit with another lender
January 14, 2019

Al Rajhi Bank, Saudi Arabia’s second-largest lender by assets, said it is in talks for a potential merger of its fully owned subsidiary in Malaysia with a state-backed financial institution in the Asian country.

The possibility of combining the balance sheets of Al Rajhi Banking & Investment Corporation Malaysia and Malaysian Industrial Development Finance (MIDF) are at early"...

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Saudi banks expects most growth in four years
January 7, 2019

The Saudi banks are set for most growth in four years, the American Bloomberg said.
'The performance of banks in the largest Arab economy will be the result of higher interest rates, and increased government spending in 2019 budget, as well as economic reform programs led by the crown prince Mohammed bin Salman' the agency said in a report published Sunday.
'More stimulus, business confidence, privatization and a stronger economy will support"...

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Saudi lenders to post high single-digit growth in 2019 as government spending boosts outlook
January 7, 2019

Banks in Saudi Arabia are expected to post high single-digit growth in annual earnings in 2019 as increased government spending and climbing interest rates positively impact the kingdom's lenders, analysts say.

Loans are likely to recover, following a four-year decline in lending, primarily boosted by an increased appetite for mortgages, according to banking analysts. Saudi banks’"...

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Saudi banks said to seek advisors on $182bn merger
January 3, 2019

National Commercial Bank and Riyad Bank are seeking advisers for a potential merger that would create the Gulf region’s third-biggest lender with $182 billion in assets, according to people with knowledge of the matter.

The banks have sent out so-called request for proposals to firms including Citigroup, Credit Suisse Group, Goldman Sachs Group, HSBC Holdings, JPMorgan Chase &"...

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Saudi Arabia's biggest lender NCB in merger talks with rival Riyad Bank
December 27, 2018

National Commercial Bank, the biggest lender by assets in Saudi Arabia, is in preliminary talks to merge with rival Riyad Bank, a move that could create a financial institution worth $182 billion (Dh668bn) in assets.

The talks are at an initial stage and may not result in a merger, NCB said in a statement to the Saudi Stock Exchange, where its shares are traded. Riyad Bank, which is also"...

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Saudi Arabia eyes deal to create $182bn mega bank
December 26, 2018

National Commercial Bank, Saudi Arabia’s biggest lender, said on Monday that it has started initial talks with Riyad Bank for a merger, a deal that would create an entity with $182 billion in assets.

Talks may not result in a deal, the bank said in a statement. NCB said it has coordinated the move with the central bank. A deal isn’t expected to result in forced dismissal of"...

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SABB ‘Best Cash Manager Bank in Saudi Arabia’ anew
December 20, 2018

THE Saudi British Bank (SABB) has been named “Best Cash Manager Bank in Saudi Arabia” in the Euromoney Cash Management Survey 2018. SABB has been recognized by Euromoney in this category for the 9th time, acknowledging SABB’s leadership in the Kingdom for cash management services.

SABB was ranked first in both categories of the survey, “Market Leader in Cash Management” and “Best Service in Cash Management”."...

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Mastercard showcases financial innovations
December 17, 2018

UNDERLINING its central role in driving the region’s digital economy, Mastercard, a leading technology company in the global payments industry, has participated in ArabNet Riyadh 2018, a leading industry event exploring the latest trends and innovations in the fintech sector. Mastercard sponsored the ‘Finverse’ stream of the event, which took a deep dive into the innovation strategies that regional banks are pursuing to capture future opportunities"...

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