National Commercial Bank to Rebrand as ‘Saudi National Bank’ After Merger with Samba is Concluded

Saudi-based Shariah-compliant lender National Commercial Bank (NCB) has announced its plan to change its name to ‘Saudi National Bank’, after the conclusion of its intended merger with Samba Financial Group (Samba).

According to a Tadawul statement filed by NCB on the 1st of February 2021, the committee responsible for preparing the integration plan decided that the proposed name of Saudi National Bank shall be the new name of the merged bank, effective from the date of merger. NCB noted that the merger remained subject to required regulatory approvals, as well as approval of the banks’ shareholders.

The merger is expected to be completed in the first half of 2021, as stated in the bourse filing. According to local media reports, the merger will res...