Edaa implements corporate action on Saudi National Bank after merger with Samba

Logo of Saudi National Bank

The Securities Depository Center Co. (Edaa) implemented the securities quantity increase for Saudi National Bank, resulting from merger with Samba Financial Group.

The quantity increase was deposited through securities exchange on the center’s accounts of eligible shareholders registered in Samba as of today, April 5, 2021.

In a separate statement, Saudi National Bank announced the listing completion of consideration shares issued to Samba’s eligible shareholders in respect of the merger. 

Therefore, the merger has been completed as set out in the shareholder circular, the bank noted.

Last week, Samba and National Commercial Bank (NCB) announced the completion of the merger, with the new entity starting operations under Saudi National Bank name.

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