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ATM & Branches"SABB" gets all regulatory approvals for merger with Alawwal Bank
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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. SAB 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.
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© SAB, Saudi Arabia. All Rights Reserved, 2024
Saudi Awwal Bank, a listed joint stock company, incorporated in the Kingdom of Saudi Arabia, with paid in capital of SAR 20,547,945,220, commercial registration certificate 1010025779, unified number 7000018668, Mailing Address: P.O. Box 9084, Riyadh 11413. National Address: 7383 King Fahad Branch Rd, 2338 Al Yasmeen Dist., 13325 Riyadh, Kingdom of Saudi Arabia, Tel. +966 11 4050677, www.sab.com, licensed pursuant to the Council of Ministers Resolution No. 198 dated 06/02/1398H and Royal Decree No. M/4 dated 12/08/1398H, and regulated and supervised by the Saudi Central Bank.