NCB completed the merger with Samba Financial Group in a $14.8bn deal.

The National Commercial Bank, a Saudi Arabian bank, completed the merger with Samba Financial Group, a Saudi multinational banking firm, in a $14.8bn deal. “Saudi Arabia is undergoing a historic transformation with Vision 2030. Such a transformation requires a robust financial services sector, especially highly capitalized, resilient banks that can fund economic development, as well as support Saudi Arabia’s trade and capital flows with the region and the rest of the world. Our ambition is to create a national champion that can facilitate the transformation envisaged under Vision 2030 and create a pioneer for next-generation banking services that nurtures tomorrow’s industry leaders,” Saeed Mohammed Al-Ghamdi, NCB Chairman.