SAMA governor rules out new bank mergers: report

24/02/2019 Argaam

 

Saudi Arabian Monetary Authority (SAMA), the Kingdom's central bank, does not see more bank mergers for now other than those already announced, Reuters reported, citing its governor Ahmed Al-Kholifey, on Sunday.

 

Saudi British Bank and Alawwal Bank announced their merger to create Saudi Arabia’s third-biggest lender in March, which was followed by the National Commercial Bank's announcing commencement of initial talks with Riyad Bank for a possible merger.

 

Separately, Al-Kholifey ruled out deflation, citing demand for consumer and real estate loans was “active” and liquidity was “strong".

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