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"SABB" gets all regulatory approvals for merger with Alawwal Bank

April 2019

The Saudi British Bank (SABB) is pleased to announce that it has obtained all required regulatory approvals to hold its shareholders meeting in connection with its proposed merger with Alawwal Bank, the last of which was the approval of the Saudi Arabian Capital Market Authority which was received on 22 April 2019.

SABB is also pleased to announce that it will invite shareholders to consider and approve the merger at an EGM (extra-ordinary general meeting) on15th May 2019.

This marks another major milestone in the merger process, which, if completed, is expected to create an exciting new bank to support an ambitious Kingdom. SABB believes that the merger will benefit all of its customers today and in the future.

SABB’s shareholders can read more about the proposed merger in the shareholders’ circular that will be published by SABB and is available on the Tadawul and SABB websites on https://www.tadawul.com.sa , www.sabb.com

Further developments will be announced in due course.